Become Debt Free with an IVA

Answer a few quick and easy questions

See if you are eligible

Write off up to 80% of your debts

See if you are eligible

in less than 60 seconds

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Benefits of an IVA

Make affordable payments based on Income and Expenditure

No circumstance would your home need to be sold

Interest and charges frozen

Stop lender contact


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Please note entering into an IVA will affect your credit rating for 72 months

Used in the right circumstances, IVAs are a very effective way of helping you to take back control of your finances. Once accepted lenders legally cannot contact you and your payments will be reduced to an affordable level.

Our advisors offer free, clear and confidential debt help and simply speaking to them will not impact your credit rating. They can help to see if you qualify for up to 80% debt write off.

Get debt free

An IVA typically lasts for five years and the end of the term, debts included are completely written off, as this is an insolvency solution there maybe somethings you want to consider:

  • Your lenders are not obliged to accept the IVA
  • If the IVA fails, it could lead to bankruptcy
  • There will be a restriction on expenditure whilst on the IVA
  • You will be placed on the public insolvency register
  • Your credit rating is affected for 6 years
  • In the final year of the IVA, if you are a homeowner, you may be required to remortgage your home. If successful, the terms of the new mortgage may be less favourable. If you can't remortgage, the term of the IVA will be extended by 12 months
  • Fees are payable if ongoing services are provided, read more here.

Check if an IVA is right for you

How does an IVA work?

Use our IVA checker and if eligible, we will put together a proposal for your lenders

Once it is agreed you will make one, affordable monthly payment

We will talk to your lenders and deal with all the paperwork

On completion, all debt included in your IVA is written off

As heard
on the radio

Mike's solution

Mike was one of our customers who was recommended an IVA.

Total unsecured debt

£33,080

Old monthly payment

£717

New monthly debt repayments

£177

Monthly reduction

£540

Debt written off

£22,460

Term

5 years

We managed to get over half of Mike's debt written off

For more help and advice, visit the Money Advice Service, an independent service set up to help people manage their money. Or find out more about the different options for paying off your debt here.

IVAs are only available in England, Wales and Northern Ireland. An IVA is a formal agreement, subject to status and acceptance and may not be suitable for all. Debt write off is based on individual circumstances. Our fees are explained here.

Check if an IVA is
right for you

Everyone's story
is unique

We will listen to you. We take the time to understand your situation and our conversations are always 100% confidential.

We are dedicated to helping you. Our friendly, experienced advisers offer personalised support that really makes a difference.

We can help you build a brighter future. We are here to make the journey to becoming debt-free as smooth as possible.

Frequently asked questions

How do I get an IVA?

The first step is to use our online IVA checker. If you are eligible, one of our expert advisers will ring you to get a better idea of your circumstances. Together, we will figure out what you can realistically afford to pay, based on your monthly income.

Then, you can leave the next bit to us. We will create an IVA proposal for your lenders and they will then decide whether to accept it. Most proposals are accepted, but not all.

If it is approved, you are legally required to make the monthly payments for the agreed amount of time as stated in your IVA. When this comes to an end, any outstanding debt will be written off. If your IVA fails, you will be at risk of bankruptcy.

Will an IVA put my job at
risk?

In most cases, an IVA will not affect a person’s job.

However, there are a few exceptions. For example, some companies have rules against taking on an individual if they are currently on an IVA or have been in the past. These include:

  • A role where you are responsible for money, like an accountant
  • A role where you advise others about their money, like a mortgage adviser

If you are worried about how your job might be affected, please speak to a member of our team and we will be happy to offer you advice.

Will lenders continue to
chase me for payments?

If the IVA is accepted by your lender, they are not allowed to chase you for payments anymore.

If they have any queries about your IVA, they should contact your insolvency practitioner instead – so if you do get a call, direct the lender to them instead.

Who will know I’m on an
IVA?

There is no reason why anybody has to find out you have an IVA. No one (including your friends, family or employer) will be informed about it as it is a private agreement between you and your lender.

Your details will be listed on the Insolvency Register which is a public record, but someone would have to search for you to find your information.

What debts can go into an
IVA?

All types of unsecured debt are allowed to go into an IVA, such as:

  • Personal loans
  • Credit and store cards
  • Catalogue debt
  • Council Tax arrears
  • Benefit arrears
  • Overdrafts

Kindly note, you cannot use an IVA to pay off secured debts, like a mortgage.

Will my home be affected?

Do not fret, your property will be safe. Your mortgage or rent payments will be considered when setting up an IVA to ensure you have enough money to pay for them. However, you can’t use your IVA to clear your secured debts.

In the final year of your IVA, you may be able to release equity in your home by remortgaging. If this is not possible, your IVA could continue for up to another 12 months.

You might also
like to know

We know that tackling your debts can be a daunting task, but we are here to help. Our advisors will tell you whether an IVA is the right solution for you and how it all works.

We will prepare a proposal for your lenders to consider, and if your IVA is accepted, we will support you every step of the way towards getting debt free.

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As a resident of Scotland you have alternatives to an IVA