Find out what an Individual voluntary Arrangement is

If you've seen adverts on the television about an IVA and wondered what one was, well we can give you all the debt help, advice and guidance you could want regarding Individual Voluntary Arrangements in England, Northern Ireland and Wales or a Trust Deed in Scotland.

Does one simple monthly payment each month sound appealing? Enquire about an IVA or Debt Management UK

Would you love all those phone calls and letters from your creditors to cease?

If there was a way to stop any further interest or charges accumulating, would you be interested?

Anyone struggling with debts would answer any of these questions with a resounding 'YES' and you are probably exactly the same...it's common sense. We see an IVA in the same way. It's a common sense approach to ending debt once it becomes unmanageable.

Why would anyone want to get tied into an IVA?

The reason an IVA is so effective is because it is a formal agreement between you and your creditors. You agree to pay so much every month for the duration of the Individual Voluntary Arrangement and providing you keep up the payments, you will be totally debt free at the end of the term.

All outstanding debts will be written off forever and your creditors cannot legally pursue you any more over these debts.

Some people say that they liked the idea of an Individual Voluntary Arrangement or IVA because of how discreet it is. Many professionals use an IVA because it means their employers don't get to know and so their careers are not affected.

Will an IVA stop me getting credit in the future?

Whilst the IVA is in place, you will not be allowed to take on any new unsecured borrowing. Your credit rating may be affected by the IVA so borrowing may be difficult for a time until your credit rating has repaired.

How does a Trust Deed in Scotland differ from an IVA?

In basic terms a Scottish Trust Deed is fundamentally the same thing as an IVA except it lasts for 36 months instead of the 60 months an IVA lasts. Contact us for more detailed advice about Trust Deeds is you are in Scotland.

If an Individual Voluntary Arrangement is something that you feel you would suit you to clear debt or you just think you need more information before going down that route, please get in touch. Our advisors are here 24 hrs to help anyone who needs that help to decide how best to deal with their debts.

Fill in the form on the left or call 0800 018 3345 Now!