Individual Voluntary Agreement
Individual Voluntary Agreement
Debt Consolidation Without More Debt!
Apply For The IVA For Your Own Circumstances
An Individual Voluntary Agreement is another name for an Individual Voluntary Arrangement or IVA.
An Individual Voluntary Agreement is a way to resolve your debt situation without getting yourself into further debt with a so-called debt consolidation loan. IVAs are structured plans which wipe out the larger portion of your debt immediately and then divides the reminder into manageable chunks to be paid off every month.
An Individual Voluntary Agreement is not a one-size-fits all type of thing. Rather, it is tailor made to your specific circumstances. For this reason it is rare for any two such IVAs to be ever alike. The plan is drawn up by an Insolvency Practitioner who is a qualified expert and who will look at your financial situation in detail in order to arrive at a solution which is the optimum plan for you and your own circumstances.
When you take out an Individual Voluntary Agreement your creditors will be legally bound by it. That means that they should stop harassing you (though this cannot be guaranteed). For this reason alone an IVA can be seen to be highly attractive, especially if the matter has been passed to debt collectors and debt purchasing companies.
To qualify for an Individual Voluntary Agreement your income needs to exceed your expenditure. By how much your income needs to exceed your expenditure really depends on the IVA plan in question, which is why our whole-of-market approach works wonders: we will match you up a plan for your own circumstances.
To apply for an Independent Voluntary Arrangement, without any obligation, or to see if you are eligible for one, apply using the form below.
So if you have at least two accounts in debt, and total debts of £2,000 or more, use the form below to see if you qualify. (If you owe less than this, or are on state benefits, then use this link to apply instead.)
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Please be aware that figures entered need to be accurate by law, and to give the best service to you. It is extremely important that you budget for all necessary expenditure including rent or mortgage, council tax and utility bills, etc., and any other necessary outgoings related to the upkeep of your household and inrelation to any specific circumstances that may relate to you. This website only collects data on behalf of debt management professionals, from which it will receive affiliate remuneration for data collection only and does not itself engage in any debt management services. Other debt management options are available and may be more suitable. People entering into an IVA or debt management will have this entered on their credit profile and this may affect their ability to get credit in the short term or even in the long term in some cases. It is free to apply from this website; you will be given advice by debt management professionals and a 'cooling off' period, by law, to decide whether or not the debt management plan is suitable for you, and you should be aware that a fee will be chargeable upon a successful arrangement, as with any commercial transaction. Failure to meet the repayments on an IVA or any debt management programme may result in serious consequences, including, but not limited to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered into a public register and will remain there for a statutory period of not less than six (6) years.
Individual Voluntary Agreement. Consumer Credit Licence number 633327.
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Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.
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