The Insolvency Act 1986

IVA (Individual Voluntary Arrangement) was introduced by the Insolvency Act of 1986 and is effectively an alternative to bankruptcy.

Once an IVA is agreed it allows a person with substantial debts to make a formal proposal to their creditors. If the proposal is accepted by the creditors the IVA becomes a legally binding contract.

Once an offer is accepted monthly payment are arranged based on what the debtor is able to reasonably.

In many cases the debts can be reduced by up to 75%

If the debtor adheres to the terms of the IVA the debt is cleared at the end of the arranged term

This is all dealt with by an Insolvency Practitioner who will not ask for any money up front, they will be paid for their services from the reduced amount that is agreed.

As an example if your total unsecured debts are £35,000 and they were reduced by 60% you would expect to pay back approximately £14,000 with monthly repayments of £233.

To find out if you are eligible for an IVA, complete the form

If you are struggling with unaffordable debts and you are more than £15,000 in debt then an IVA (Individual Voluntary Arrangement) may be the best solution to your problems.

If your debts are less than £15,000 a debt management programme may be an option for you

There is no charge for any information on this web site


 Check to see if you qualify for an IVA

You will receive an email within 15 minutes of submitting the form  

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