What is an IVA?

IVA Debt Solutions

If you are committed to taking control of your personal debts, keeping your home and avoiding bankruptcy then an Individual Voluntary Arrangement, an IVA, could be the best solution to your debt problems.

An IVA is a simple, flexible and effective way of getting rid of all your credit card debts. You can expect to write off between 25% and 70% of your unsecured personal debts with an IVA. The amount of debt that you can write off with your IVA will depend on what you can afford to pay.

Once an IVA has been agreed with your creditors, you'll pay a fixed amount each month, usually for a period of five years, and then you'll be free from debt. If you own your home, you will need to pay a percentage of the equity (calculated at today's values) into the arrangement. Your creditors cannot demand any additional payments from you unless your financial circumstances improve during the life of the IVA. If your monthly IVA payments don't cover the entire amount of your debts, your creditors will usually write off the rest of your debts.

At IVA Company Debt Lifeboat you'll get free debt advice from IVA experts, ongoing help throughout your IVA and a first class service for fees that are included in each month's single payment into your IVA.