The Process

An Individual Voluntary Arrangement (IVA) is an important piece of government legislation. An IVA allows you to avoid the trauma of bankruptcy, and is for applicants who owe more than £12,000 to 3 or more creditors. Like many similar solutions, you must be in regular employment.

Our Debt Management programmes will reduce and eventually clear all your outstanding debt by management of your assets and by dealing directly with your creditors.

Please feel free to contact us if you need more information.

Debt Management - Debunked

A Debt Management or Financial Management programme provides a structured repayment schedule for your unsecured debts. The amount that you repay each month is based entirely on what you can afford. You pay the monthly amount to the debt management company and this is then divided fairly between your creditors. This not only means that creditors should stop contacting you, but that interest and charges on your debts may be frozen so that any money that is repaid goes directly towards paying off your debts.

Any UK resident with two or more creditors and over £1000 of unsecured debt can apply. If you apply for a Debt Management Plan, our advisers will guide you through the process by telephone, giving you professional advice on whether Debt Management is the right course of action for you.

How does an IVA work?

An IVA is...

1. A legally binding way to reduce the amount that you pay back

2. A way to stop any further interest charges

3. A way to reduce your monthly repayments

4. This means more money in your pocket at the end of the month

For more information about the IVA process, please click here.