As Seen On:

Write Off Up To 85% Of Your Debts!

Check If You Qualify

Personal information guarantee
We do not cold call, spam and pass on your data for marketing.

 Thousands of UK Residents Are Writing Off Their Debts

UK Based Experts Dedicated to Helping You

Become Debt Free In A Few Simple Steps

 

Deal With Your Debt Today

Check if you qualify

Take the 30-second assessment to see if you qualify

Get your FREE expert advice

We will tailor a plan to suit your wishes and make sure it is affordable

Write Off Up To 85% Of Your Debts

Have peace of mind that your debts are being sorted

What is an IVA?

Set up and managed by an insolvency practitioner (IP) an IVA is a form of insolvency which allows you to write off up to 81% of unsecured debt with government legislation, and offers an alternative to bankruptcy.

However, an IVA will affect your credit rating for six years and your information will also be placed on the public Register of Insolvencies for the duration of the plan.

Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.

In an IVA a single monthly payment is agreed with your current financial situation taken into consideration – this payment is then divided between the people you owe money to.

During the course of your plan all interest and fees associated with your debts are frozen.

At the end of the IVA the remaining debts are written off and you can begin your debt-free future.

What debts can be written off?

Most unsecured debts, meaning debts that are not tied to an asset such as your home, can be included in an IVA. This includes:
Other outstanding billsCatalogue and store card debts

  • Credit cards
  • Personal loans
  • Overdrafts
  • Gas, electricity, and water bill arrear
  • Council tax arrears
  • Income tax / National Insurance arrears
  • Tax credit / benefit overpayments
  • Payday loans
  • Debts to family and friends
  • Joint debts – but the other person must also continue their payments

If you are looking for more information about whether an IVA is right for you, please fill in the form at the top of this page to speak to one of our Advisors.

Get help with any type of unsecured debt
We can help you manage debts with some of the biggest creditors in the UK.

Frequently Asked Questions

 

Is an IVA suitable for me?

An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates alegally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.

Will an IVA effect my credit rating?

Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.

Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.

How will an IVA change my life?

An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.

In an IVA a single monthly payment is agreed with your current financial situationtaken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.

At the end of the IVA the remaining debts are written off and you can begin your debt-free future.

What if I don’t get an IVA?

Here’s what could happen if you don’t decide to fix your debt problems:

  • Creditors will still continue to chase you until the debt is repaid
  • You may have to declare bankruptcy
  • You will continue to stress and feel anxious about your debts

Debt/Insider is a trading style of Webfibre Ltd

© 2021 debtinsider.co.uk

Privacy Policy