What is an IVA?

• An IVA reduces debt by up to 70%. You only repay what is affordable after taking into account your personal circumstances.


• An IVA allows you to be free from debt in 5 years


• In 60 months you will be debt free, the rest is written off. This is dependent upon approval of 75% (by value of the debt) of your creditors, and provided you maintain the payment schedule.


• An IVA Stops freezes interests on your debts

You will stop paying interest on your debts at the point in time of your IVA proposal being approved.
An IVA Stops harassment

• Creditors and Debt Collectors can't legally pursue debt repayment once an IVA is in place.


• An IVA avoids bankruptcy


• An IVA means you reach an agreement with your creditors whereby they cannot bankrupt you if you maintain the agreed IVA payments. Bankruptcy means you lose control of all your assets, including your home.

In order for an IVA proposal to be approved, creditors are looking for certain conditions to be met. More importantly, they are looking for a debtor's honest, best attempt, to pay back as much of their debt as is reasonably possible.