You are not alone…

We are here to help you
call free on 0800 954 6518

Our trained advisors are waiting for your call, there's no wait
time and no need to make an appointment.

Our office opening hours are:
Mon - Fri: 8am - 9pm, Sat: 9am - 5pm, Sun: 10am - 4pm

Individual Voluntary Arrangements

If you are struggling with making monthly repayments to your creditors and you owe over £15,000, an IVA could be the answer. At the Debt Advice Trust, we have a panel of approved IVA providers who will work with you to suggest a lower monthly amount for you to pay to your creditors.

What is an IVA?

IVA stands for Individual Voluntary Arrangement, a process that is entered into as a means of repaying your debt. In order to apply for an IVA you will need to instruct a professional insolvency company.

An Individual voluntary arrangement, once agreed with your creditors will lower your monthly repayments and usually at the end of the stated agreement will result in the remainder of your debt being written off providing you have kept up your payments. An IVA is a legally binding contract between you and your creditors meaning that as long as you keep up the agreed payments you won't hear from your creditors again.

Since an IVA is negotiated on your behalf by another party, you can stop worrying about your debt as soon as your creditors have agreed to it. Having a professional deal with the problem on your behalf means, you will not have to concern yourself with questions such as “what is an IVA?” or “how do I negotiate one with my creditors?”

In cases where an individual owes more than £15,000 creditors are more likely to agree to the Individual Voluntary Agreement process, as the bankruptcy process will usually result in their recovering less of the money owed.

The Debt Advice Trust is here to answer all your questions about debt such as 'what is an IVA and could it help me avoid bankruptcy?' We’re here to offer you help on how you can manage your debt.

Individual Voluntary Arrangements

Request a Call Back