Individual Voluntary Arrangement (IVA) Guide

What is an IVA?

  • A legally binding document between you and your creditors.
  • A method of preventing your creditors from taking extra action against you to retrieve the funds.
  • A way of protecting your home from being sold to pay your debts.
  • A method to pay back your creditors in a realistic way and with a realistic time frame.
  • An IVA will potentially write off 55% of an average debt that is almost £60000.
  • IVA lends itself best to those individuals who have debts in excess of £15000.
  • An IVA will have an Effect on legal aspects and professional aspects. Ensure you are aware of this.

Areas Covered

  • Are there guidelines for who can enter an IVA?
  • What is a business IVA?
  • Is there a best IVA on the market?
  • How much does an IVA cost?
  • Are there repercussions if I do not stick to my payment plan?
  • How is an IVA completed?
  • Is there a register that holds information on my IVA?
  • Does an IVA affect my property?
  • Can the creditors reject my IVA offering?
  • Are there any affects towards my credit rating?
  • Who is responsible for the various IVA fees?

Download Individual Voluntary Arrangement (IVA) Guide