IVA UK

What is an IVA?

IVA stands for Individual Voluntary Arrangement. An IVA essentially allows someone with debt difficulties or facing bankrupcy to settle their debts over a set duration of typically five years and stops the creditors from charging further interest and taking further legal action.

It is a legal contract between the individual and the creditors and as such is legally binding.

The amounts paid by the individual will be set according to their means (what they can afford) and will end within the fixed time frame. Of course, this means that some of the debt (potentially a large amount) can be written off.

If you are interested in getting IVA help or IVA debt management advice then please use the following IVA contact form, and a specialist IVA broker will contact you with some more information about your options.