IVA UK

IVA stands for Individual Voluntary Arrangement. IVAs are a piece of Government legislation which was introduced as an alternative to bankruptcy with less long term implications for debtors.

An IVA will allow you to make reduced payments to your creditors for an average of 60 months. Your payments will be based on your own personal circumstances and will be at a level that you can realistically afford, after reasonable living expenses have been deducted.

On completion of your IVA, any remaining debt will be written off.

Do I Qualify for an IVA UK?

Not everyone qualifies for an IVA. There are reasons why you might not to suitable for an IVA. UK residents, except for those in Scotland, who have high levels of unaffordable debt can see if they are eligible.

The best way to do that is to speak with our IVA specialists on 0808 131 9103 or fill out the Quick Enquiry Form for a call back.

If you are a resident of Scotland then the UK IVA equivalent is known as a Scottish Trust Deed. It works in a similar way to an IVA as you write off unaffordable debt, but it only lasts an average of 36 months.

For the remainder of the UK, IVA legislation can help you if you are struggling with debt and reside in England, Wales or Northern Ireland.

UK IVA Advice

If you think that an IVA is the best debt solution for your circumstances then you need to see expert advice about the process of an IVA. UK based IVAs.co.uk can offer you free information and advice about your debts.

To see if an IVA UK is the right debt solution for you, please take the IVAs test.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)