If you have over £15,000 of debt that you are struggling to maintain payments on, an individual voluntary arrangement, or an IVA for short might be the solution you need!

An IVA is a legal arrangement that normally lasts for about 5 years and is a great alternative to bankruptcy.

The IVA is a legally binding agreement between you and your creditors that gives legal protection for both you and your creditors.

Once your IVA is in place, all of the interest and charges that your creditors may be placing onto your debts must stop.

When the agreement commences and you start making payments any letters and calls from your creditors should then stop.  After the 60 month period has concluded and the payment arrangement has been maintained, the remaining debt is legally written off.  For more advice on how an IVA could help you become debt free, call us today!

There are five main points to see if you qualify for an IVA.  They are;

1. To have 3 or more creditors
2. More than £15,000 of unsecured credit
3. Struggling with payments
4. Proof of employment
5. A registered UK citizen (Specific to England & Wales)

Call us today for more information on an IVA debt solution on 0800 970 9165!