Debt Free IVA

If you are struggling with debt and you are looking for a Debt Free Solution then an IVA could be your key to becoming debt free.

It was introduced by the Government as a way for insolvent debtors to avoid bankruptcy. No other debt solution can write off any part your debt.

An IVA Can Help You Become Debt Free: 

An IVA is a legal agreement with your creditors where you agree to pay a monthly amount over a set period of time, usually 60 months. When this 60 months is up any unpaid debt is written off as part of the IVA agreement, and you will become free of any unsecured debt.

The perks of an IVA may sound too good to be true if you are looking for a way to become debt free. But if you qualify then it is an avenue well worth exploring and you have the legal right to propose an IVA to your creditors.

Your IVA can only be arranged by a licensed professional called an Insolvency Practitioner (I.P) as it is a complex legal procedure. 

To find out more information about how a debt free IVA is right for your financial circumstances, please contact out Debt Free advisors on our freephone number 0808 131 0039.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)