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.