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Individual Voluntary Arrangements
Individual Voluntary Arrangement Support Service
Individual-Voluntary-Arrangement.info is a national organisation offering support to anyone in the UK facing serious debt problems.
We specialise in providing free and impartial information about Individual Voluntary Arrangements
We aim to answer any questions you might have about individual voluntary arrangements.
However, if you can’t find the information you’re looking for, or if you’d simply prefer to talk to a “real” person, then please:
Telephone us on freephone 0800 138 5445
Or
Fill in the call me back form on the right hand side of this page, and we’ll telephone you at a time that’s convenient for you.
What is an Individual Voluntary Arrangement
Individual Voluntary Arrangements (IVA for short) were introduced by the government in 1986 as an alternative solution to those facing bankruptcy.
An Individual Voluntary Arrangement is a debt repayment agreement between a debtor and creditor. It allows the debtor to only repay a percentage of his or her debt via monthly payments.
It is not unusual for a debtor who enters into an Individual Voluntary Arrangement to pay back as little as 25% of the original debt.
Other advantages of an Individual Voluntary Arrangement:
- An Individual Voluntary Arrangement protects you from further legal action
- Interest on your debt is frozen once an Individual Voluntary Arrangement is in place
- Payment demands are stopped once an Individual Voluntary Arrangement has been set up
- With an Individual Voluntary Arrangement, your debt is reduced
- An Individual Voluntary Arrangement enables you to pay off your debt in monthly payments
- Once an Individual Voluntary Arrangement has been completed you are debt free