IVA Debt Solution

An Individual Voluntary Arrangement, more commonly known as an IVA, is a formal, legally binding debt solution between you and the people you owe money to, for example, your creditors. This generally takes place over a period of five years.

Are you struggling to balance all of your finances? do you find yourself unable to prioritise your ingoing and outgoing expenses? At Personal Debt Support, we want you to know that you’re not alone. We can access all of the financial products available to you and work tirelessly on your behalf to help you plan for the debt-free future that you deserve.

An Individual Voluntary Arrangement may be the best solution for you. Once you enter an IVA, by setting this up, creditors can take no further action against you and they, therefore, cannot contact you directly.

 

 

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IVA Personal Debt Support
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IVA Personal Debt Support
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How an IVA could benefit you

When taking out an IVA  you will be asked for a single monthly payment in accordance with your current financial situation.  This payment is then divided between the unsecured creditors. During the course of your plan, all interest and fees associated with your debts will be frozen. At the end of the term of your IVA, the remaining debts will be written off and you can begin a debt-free future.

An IVA is open to anyone who lives in England, Wales, Scotland or Northern Ireland.

With these more manageable practices in place, as well as more affordable payments, this can help you start to see the light at the end of the tunnel and help you take back control of your finances. Begin your journey with Personal Debt Support today.

 

Frequently Asked Questions

This depends on your financial situation and your own choice of which you feel is right for you. IVAs and Bankruptcy are two very different Insolvency procedures that can both deal with your debts

A standard IVA usually lasts for 5 years (60 monthly payments), although it can be completed in as little as 12 months if you can propose a lump sum payment to settle your current debts.

When you are in an IVA all of your current credit agreements will be stopped.

Contact Personal Debt Support

To find out more about IVA and your eligibility for this debt management solution, contact Personal Debt Support today. Let us help you on your journey to being debt-free.