What is an Individual Voluntary Arrangement or IVA?
An Individual Voluntary Arrangement, or IVA, is essentially a legal agreement between you and your creditors to repay your debts, usually through affordable monthly payments, over a five-year period.
The amount offered must be reasonable, and usually will result in a percentage of the debt being repaid and the balance is written off.
75% of creditors who vote for an IVA, must vote to approve it, for the arrangement to come into effect.
More information can be found on our IVA home page.
Alternatively, if you would like a free face to face, or telephone meeting, with a Licensed Insolvency Practitioner, please ring 01326 340 579 or 01305 458 383, to arrange a mutually convenient time and date to discuss the options open to you.
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