Frequently Asked Questions

What is an IVA?
IVA or Individual Voluntary Arrangement is a legal agreement between a debtor and his creditors. Under it, the debtor makes single monthly repayments to pay off his outstanding debts.

How can I know that I should opt for an IVA?
If you have debts over £15,000 and owe money to more than two lenders, then an IVA is a suitable option for you.

In what time an IVA is completed?
An IVA is generally completed in a period of 5 years.

How are the monthly installments calculated?
The monthly repayments are based on your disposable income. Your other expenses are not disturbed and the installments are kept suitable in accordance to your conditions.

Will an IVA affect my professional career?
No. It is a confidential agreement between you and your creditors. Unlike bankruptcy, IVA is not advertised in newspapers.