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What Is An IVA?   No obligation, Just Honest Advice


An Individual Voluntary Arrangement (IVA) is a legal agreement drawn up between the person in debt, all creditors to whom money is owed (banks, credit cards etc) and a Licensed Insolvency Practitioner.

It is a legal process by which your creditors cannot pursue you for payment of your debts outside of the agreement.

In an IVA you agree to pay a single, reduced, affordable, monthly payment for a period between 3 and 5 years after which the unpaid part of the debt is written off by the creditors. The creditors are aware of this and are in agreement with it.

What you pay each month is what you can afford. You are left with enough money to enjoy live comfortably.

With an IVA it may be possible to cancel 90% of your debt legally.

 


 
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