Debt Help
An IVA (Individual Voluntary Arrangement) is an alternative to bankruptcy and could see you debt free in 5 years time.

To qualify for an IVA you will owe at least £15,000, as unsecured debt, to 3 separate companies. It is a legally binding agreement between you and the lenders that you owe money to.

Your creditors will agree to a monthly payment (lower than what you are currently paying) for the next 5 years – then your debt will be written off. They will not chase you for extra money in this period and cannot make you bankrupt.

An IVA should not be entered into lightly but is an often preferred alternative to that of being declared bankrupt.






More information about debt management and advice:


Write off all the debt you cannot afford and avoid legal action. Government legislation that helps you clear your debt in 60 months.
Lower your monthly payments on your existing debt with one affordable monthly payment plan. Hassle free and flexible plans for if your situation changes.
Bankruptcy is a consideration if you simply cannot pay debts that you owe and you have already considered Debt Management and an IVA.
A Trust Deed is a legal process only available to residents in Scotland and offers an alternative to bankruptcy.
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