An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates a legally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.

Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place. Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.

In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.

Once you enter an IVA, creditors can take no further action against you and can’t contact you directly.

An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances. In an IVA a single monthly payment is agreed with your current financial situation taken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen. At the end of the IVA the remaining debts are written off.

All of our initial advice is free; however, fees will apply should you decide to enter into an arrangement.

We operate a transparent fixed fee model, which incorporates the Nominee Fee, Supervisory Fee and all costs and expenses associated with the arrangement.

Fees will be taken from your monthly payment or asset realisations paid into your arrangement.

These will be discussed by an expert advisor to make sure you are fully aware of the costs involved.