If you are considering using a service to assist with your debts, it is important that you seek the correct advice so you can reach a decision that best suits your situation.

Here are some of the key aspects to bear in mind when looking at an IVA.


  • Debt free in 5-7 years
  • Remainder of debts included in the IVA¬†written off at the end of the agreed term. (You will still have to pay any debts which are not part of the IVA)
  • A single monthly payment
  • Interest and charges frozen
  • Creditor contact and further action stopped
  • Your IVA will be reviewed regularly to identify any change in circumstances


  • Minimum debt level 12,500
  • Maintain payment level for 5-7 years
  • Creditors do not have to agree to an IVA
  • Legally binding
  • Homeowners may be asked to release equity from their property
  • Failure to make the agreed payments could lead to your bankruptcy
  • The IVA will remain on your credit file for 6 years and will affect your ability to gain credit. It will also be entered on the Insolvency Register for the duration of your IVA.
  • Secured debts will be taken into account but cannot be part of an IVA (this includes any charging orders that may have been applied to your property).

For further information please see our IVA FAQ section or give us a call for an obligation free chat.