Struggling with Debt? Get IVA Help Today
Complete our online form to find out how much you could write off.
- 95% IVA approval rate
- Affordable monthly payments
- Get your debts under control
May not be suitable in all circumstances. Fees and disadvantages may apply, read here.
How to clear your debt...
UK residents have a right to debt help and there are several tried and tested solutions that can help lower your debt payments, freeze interest and charges, and stop pressure from creditors.
Qualifying criteria
- You owe £7,000 or more
- You have two or more lenders
- You have a regular monthly income
If you’re feeling overwhelmed by debt an Individual Voluntary Arrangement (IVA) could be one option that holds the key to your debt-free future.
Apply today
It’s never too early or late to seek help. Take the first steps to regain control of your finances by completing our simple online form
- DEBT FORGIVENESS
Creditors must legally write off any remaining balance when you complete your IVA. - AFFORDABLE PAYMENTS
Your repayments are based on what you can realistically afford each month. - LEGAL PROTECTION
An IVA stops creditors from chasing you, including bailiffs and legal action. - INTEREST & CHARGES FROZEN
No more rising debt from added fees.
A typical example of an IVA*
| Loans | £5,000 |
| Credit Cards | £13,500 |
| Store Cards | £4,500 |
| Utility Bills | £1,500 |
| Overdraft | £3,000 |
| Total Owed | £27,500 |
Your monthly debt repayments:
£717
Previous Payment
MONTHLY SAVING £580
£136
New Repayment
DEBT REDUCED BY 78%
*A debt write-off amount of around 78% is realistic based on the average figures of IVA clients between June 2023 to June 2024. We assess each customer individually based on their circumstances and payments to the IVA are based on what is realistic and affordable.
Use our free IVA Calculator to see how much you could save with an Individual Voluntary Arrangement.
We are Money Advice
Why Choose Us?
We provide practical and ethical IVA guidance.
- We can help
We’ll take time to understand your situation. - We resolve
Once you’re ready, we’ll talk you through the IVA process and help make those important next steps. - We listen
When you’re in debt, talking about it can be hard. Our team will take the time to listen to your concerns. - We understand
We’ve dealt with various circumstances and know the importance of receiving the right support.
Ready to regain control of your finances?
It’s never too early or late to seek help. Now could be the time if you are:
- Regularly worrying about money
- Struggling to pay your household bills
- Paying bills with credit
- Relying on your overdraft or credit card to get by
- Missing credit card repayments
- Hiding your spending habits from your family
- Avoiding letters and calls from your creditors
Check if you qualify
How we helped Julie
Friendly reassuring and professional.
I would highly recommend money advice, from the initial conversation my mind was put at ease and the whole process was fast efficient and I was kept updated every step of the way.
£100
Monthly payment
£25,208
Debt amount
77%
Debt write off
Julie
How we helped Chelsea
Fast. Friendly. Efficient.
Absolutely brilliant. Very fast, friendly and efficient. Haley and Amy are lovely ladies that genuinely made an embarrassing situation for me feel a whole lot better. Thank you so much.
£90
Monthly payment
£9,097
Debt amount
41%
Debt write off
Chelsea
How we helped Ewan
Excellent service
Very well-spoken and clear at getting the message across. Answered all questions promptly and with confidence.
£200
Monthly payment
£18,026
Debt amount
34%
Debt write off
Ewan
How we helped Kirsty
Very helpful and easy to talk to
Really makes you feel at ease. Really easy to talk to, explained everything in detail and again when needed.
£104
Monthly payment
£28,407
Debt amount
79%
Debt write off
Kirsty
How we helped Barry
Great service and understanding
Really understanding and caring, great advice from lovely staff who made me feel at ease from start to finish and have helped relieve my stressful situation.
£150
Monthly payment
£16,912
Debt amount
47%
Debt write off
Barry
How we helped Samantha
Fantastic service
Simple and easy to start my path to becoming debt free. No judgement and a straightforward process. Everything was explained clearly without any jargon. I can’t thank Shaun enough.
£100
Monthly payment
£7,586
Debt amount
21%
Debt write off
Samantha
What debts can be included in an IVA?
Some examples you can include in an IVA:
- Credit / Store Cards
- Council / Utility Bills
- Unsecured Loans
- HMRC Debt
- Vehicle and Property Shortfalls
- Overdrafts
Some examples you can’t include in an IVA:
- Secured Debts & Loans
- Mortgage or Rent Arrears
- CSA arrears
If you are unsure whether a debt can be included, please call our helpline on 0161 640 6400, and a member of our team will be happy to assist you.
What debt are you most concerned about?
IVA advantages & disadvantages
As with any Insolvency process the are advantages and disadvantages. Below are the some of the advantages to be considered when deciding if an IVA is right for you:
- No upfront fees are charged for setting up the IVA.
- If your IVA is approved, creditors who vote against your proposal or who do not vote at all are still bound by it.
- Creditors whose lending is unsecured can’t take any further action against you once the IVA is approved.
- Once the IVA is approved, interest and charges are frozen by law provided you keep up your payments.
- Your insolvency practitioner will help you prepare your proposal, including agreeing the level of your household and personal spending based on guidelines acceptable to creditors.
- You make only a single payment each month. Your insolvency practitioner is responsible for administering and distributing your payments.
- If your circumstances change for the worse, the IP can in certain circumstances authorise a payment break or go back to creditors and ask them to vary the terms of the arrangement.
- You will never be forced to sell your home in an IVA.
- On successful completion of the IVA, the balance of what you owe your unsecured creditors included within the IVA is written off.
As with any insolvency process there are consequences of entering into an IVA, which must be considered. These include:
- During the term of the IVA there are restrictions placed on your expenditure.
- Not all debts can be included in an IVA, for example student loans, child support and maintenance, magistrate court fines and social fund loans are excluded from an IVA, but an allowance can be given to enable you to continue repaying these.
- Creditors may not approve your IVA.
- If you are a homeowner you may be required to release equity in the final year of the IVA through remortgaging. If you are unable to remortgage then your arrangement could be extended for up to 12 months in lieu of the equity available in your property.
- If you become entitled to any windfalls or inheritance over and above £500 during the term of the IVA these funds are to be introduced into the arrangement.
- If you fail to make the payments due under the terms of your IVA, then your arrangement could fail. If your circumstances change, the IP can ask creditors to agree an amended offer, however if creditors refuse to accept amended terms, the IVA may fail. You may then still owe your creditors the amount that you owed at the outset of the IVA. IVA’s are recorded on the Insolvency Register, which is a public register. An IVA remains on your credit file for 6 years after it is accepted, and may have a negative effect on your credit score for up to six years after the IVA is accepted.
Money Advice help over 3,000 people in the UK every year
Our team of experts help thousands of families get their finances back on track with an IVA.
Is an IVA right for you?
We can discuss your eligibility for an IVA
Prefer to speak later?
We will offer support to help you find a solution.
To find out more about managing your money and getting free advice, visit Money Helper, an independent service set up to help people manage their money.