An IVA is an alternative to bankruptcy that could help you become debt free within 5 years and provide legal protection from further interest and charges being added to your debts.
Please note that for consumers considering a Individual Voluntary Arrangement (IVA) that although the consumer may become debt free at the end of the Bankruptcy, IVA or PTD period, the effect on their credit rating is likely to remain on file for 6 years. In addition the consumers / debtors name, address and birth date will become public knowledge on the governments “Individual Insolvency Register”. The individual insolvency register (insolvency.gov.uk/eiir/) allows anyone to check, quickly and easily, if someone is bankrupt or has taken out an "individual voluntary arrangement" (IVA).
Contact Bankruptcy-Insolvency.co.uk who have over 10 years experience providing IVAs for people with debt problems.
An IVA is attractive to people with debts over £17,000 because they can help people become become debt free. The UK Insolvency Helpline always recommends an IVA is considered along side bankruptcy and the other possible alternatives such as debt management.
Many frequently asked IVA questions can be found in our IVA help section or you can phone one our debt specialist directly.
If you are considering and IVA as a possible way forward you should know that we are the UK’s leading IVA advice helpline and have been offering it as one of the possible debt solutions that can help you get out of serious debt since 1986. Once a debt advice adviser has assessed your financial position using our best advice system.