IVAs
Understand Individual Voluntary Arrangements and whether they suit your situation. Articles explain the process, requirements, advantages, disadvantages and what happens if things go wrong.
Are IVAs Detrimental to Your Debt Record?
IVAs can damage your credit rating for six years, but they're often better than bankruptcy if you can't pay your debts.
Are You Eligible for an IVA?
An IVA requires at least £15,000 in debt across multiple creditors, stable income and residency in England, Wales or Northern Ireland to qualify.
Can I Still Get an IVA in Light of Current Circumstances?
IVAs let you write off 75% of debt through a formal agreement with creditors, but approval isn't guaranteed and affects your credit for years.
Common Debt Solution Alternatives to an IVA
If an IVA isn't right for you, there are other debt solutions worth considering depending on your circumstances.
Deciding on an IVA
Weigh up the pros and cons of a five-year IVA to decide if this debt solution is right for your situation.
FAQ: Avoiding IVA Scam Companies
Watch out for IVA scam companies that charge upfront fees, make impossible promises about debt reduction, and won't give you a real business address.
FAQ: Life During an IVA
An IVA means cutting back on spending and living within your means, but an Insolvency Practitioner guides you through the five-year process to become debt free.
FAQ: The IVA Process
Get answers about how Individual Voluntary Agreements work, from setup time to creditor negotiations and what to expect.
How Do IVAs Work?
An IVA lets you pay back debt without declaring bankruptcy, but you'll need an insolvency practitioner and creditor approval to make it work.
I Have Been Refused an IVA, What Next?
What options you have if your IVA application is refused and whether bankruptcy is your only alternative.
IVA Timeline: From Application to Acceptance
Get your IVA application approved in under 60 days with this step-by-step breakdown of the process.
IVAs and the Credit Crunch
How IVAs can help during financial hardship, and what impact they'll have on your credit for years ahead.
My Creditors Won't Agree to an IVA: What Now?
If creditors reject your IVA proposal, here are your next steps to manage your debt.
New Debt Industry Standards and IVA
New lending codes protect people considering IVAs and other debt solutions from unfair practices by debt help companies.
Pro's of IVAs
Individual Voluntary Arrangements can write off up to 75% of your debt and help you get back on track with a manageable repayment plan.
Saving Your Business with an IVA
An IVA can help a struggling small business avoid bankruptcy and keep trading if creditors agree to the arrangement.
Simple Answers to Common IVA Questions
An IVA requires at least £15,000 in debt from multiple creditors, but your application can be rejected if you can afford repayments or creditors don't agree.
The Disadvantages of IVAs
IVAs can clear debt but come with serious downsides that lenders won't tell you about upfront.
The Facts About IVAs in Britain
An IVA can help you manage serious debt in the UK, but you need to know how they work and what they'll cost you.
The Truth About IVA Companies
Not all IVA companies are trustworthy—here's how to spot the red flags and avoid ones that prioritize profit over your financial wellbeing.
What Is an IVA?
An IVA can write off up to 75% of your debts, but you'll lose control of your finances for years and face strict conditions.
Who Can Get an IVA?
If you're eligible for an IVA, including what creditors need to agree to and how much debt must be written off.