Speak To The IVA Experts

If you are struggling with unaffordable unsecured debts then an IVA (Individual Voluntary Arrangement) may be the best solution to your problems.

A DebtFree IVA can Achieve:-

  • Forgiveness of a sizeable proportion of debt.
  • For homeowners - keeping property.
  • Avoidance of pending legal action, including bankruptcy.
  • Interest freeze on debts.
  • Monthly payments determined by what you can afford.

We are able to propose IVAs for repayments of £70
per month
and debts as low as £5,500. These thresholds have
reduced since the presentation to the right was recorded.

DebtFree IVAChecker

Find out if you qualify for an IVA right now.

This tool produces a report showing if you qualify for an IVA, and if not why not.
For those qualifying, exact potential debt write off values are given.

Submitting details once allows usage many times with different input values.

1 - Your Finances

What is your total unsecured debt?
What must you pay towards these debts each month?
What can you realistically afford towards these debts each month?
Are you a homeowner?

2 - Your Personal Details

* * required
Protecting Your Privacy
Your details will be kept strictly confidential and used only for the purposes of solving your debt problems. By submitting your details, you're accepting our Privacy Policy.
Data Protection Number: Z6082444.

What is an IVA?

Got joint debts with your partner?
About 40% of the cases we handle are for couples with some debts in both their names.

An IVA is a Government scheme to help those with unaffordable unsecured debts. It is designed to help people who have little prospect of repaying their debts in full - but who want to avoid bankruptcy and repay as best as they can.

How an IVA works

An IVA is an agreement between you and the companies to which you own money - your creditors. We'll review your financial situation and decide with you what you can realistically afford to pay back each month. Should an IVA be the most appropriate course of action we will recommend a formal proposal to your creditors.

If the proposal is approved your debts are frozen and no more interest or changes can be made against you. Provided you maintain payments, your unpaid debt will be written off at the end of the IVA, which normally lasts 60 months.

More Information on IVA's

Which debts can I include in my IVA?

The most typical debts included in an IVA are unsecured debts from personal borrowing, e.g. personal loans, credit cards and bank overdrafts. However some not so obvious debts can also be included.

  • tax arrears.
  • catalogue debts.
  • gas, electric or water bills (from a previous address and supplier).
  • disconnected mobile phone bill.
  • rent arrears (from a previous address).
  • some items bought on finance.
  • car finance ( if you no longer have the car).
  • council tax arrears - from a previous year.

Any service which you're no longer using, where money is outstanding, has the potential for inclusion in an IVA; e.g. unpaid nursery or medical bills.

Your must ensure that you continue to make payments to creditors that are not/cannot be included in your IVA. See debts we can help with for details of what can and cannot be included in a IVA.

Failure to pay any taxes, fines, child support payments and other debts outside of your IVA could result in a loss of access to essential goods or services or repossession of, or eviction from, your home.

I'm a homeowner with a mortgage - how does this impact an IVA?

An IVA helped me keep my home.
"I avoided bankruptcy and was able to get back on top of my mortgage repayments."

Under an IVA, your mortgage and any other secured payments are prioritised, which means they are taken into account before looking at how much you can afford to pay towards your other debts. Therefore your home is protected, unlike in bankruptcy.

If you have significant equity in your property, you are likely to be asked to make a contribution from that towards the end of the IVA by way of re-mortgage. This is subject to affordability; so you’re never required to pay more than you can realistically afford. Being an IVA holder will impact your credit rating and ability to get a re-mortgage. If you are unable to re-mortgage, the IVA may be extended by a further 12 months.

For more informarion see IVAs and homeowners..

What about my expenditure during an IVA?

You won’t be expected to live in poverty.
While creditors are willing to forgive you some of your debts, you are obligated to repay as much as you can reasonably afford. Therefore restrictions may have to be applied to your expenditure as part of your IVA,

Is an IVA better for me than Bankruptcy?

An IVA can be the most suitable debt solution for many people, it all depends on personal circumstances.

  • You will not be subject to employment restrictions or lose your job.
    Unless there is a specific clause relating to IVAs in your employment contract.
  • You get to keep your home.
    In bankruptcy, you will lose your home if the equity in it is needed to pay debts.
  • All reasonable assets can be retained.
    As part of bankruptcy proceedings any non-essential assets can be sold to raise money to repay creditors.This is not the case with an IVA.
  • You may continue to run your own business
    In bankruptcy, your business will be wound up and your employees dismissed.
  • No question of rash or hazardous behaviour.
    In bankruptcy, you may become subject to a Bankruptcy Restriction Order if the Official Receiver considers you have been blameworthy and/or reckless in contributing to your bankruptcy.
  • No potential of judicial investigation into your finances.
    In bankruptcy, the Official Receiver will investigate your financial affairs and report any irregularities to the courts. This could result in criminal proceedings.

What if my financial situation changes for the better or worse during the IVA?

It is not in your creditors best interests for your IVA to fail. Therefore, if your financial situation takes a turn for the worse, it may be possible to reduce payments either with just the approval of your IVA supervisor or for larger changes, by means a formal "variation" where creditors vote, like a mini-IVA proposal.

Conversely, if you circumstances improve and/or you come into extra money during the IVA, you will be expected to contribute this, in part at least, into the IVA.

Who are DebtFree?

DebtFree is a trading style of Harrington Brooks, one of the largest and longest established debt resolution providers in the UK.

As of April 2014 we have over 65,000 clients on our financial management programme and a further 17,000 clients doing their IVA with us. In 2013 we set-up more IVAs than any other provider.

We employ over 500 staff in our offices in Sale, Manchester; the majority of which are involved in providing personalised debt advice, liaising with creditors or providing customer support and service.

Why should I choose DebtFree to prepare my IVA?

  • Experience. We are currently have over 17,000 IVA clients. Everyday people successfully complete an IVA with us, becoming debt free.
  • Reputation.We (Harrington Brooks) have an excellent reputation with our clients and are well reviewed online. View our reviews on Trust Pilot
  • Excellent Approval rate.
    While creditor acceptance of your IVA is not guaranteed, we typically achieve a success rate of about 95% each month.
  • We are not a lead generator.
    Many of the web sites you'll see about IVAs are just their to capture your details and sell them on; often to several companies. This is not the case here. Any enquiry made from this web site will be handled by us and us alone.

[*Figures from January to March 2014]

What happens when I submit my details?

"We're great listeners, never judgmental; and give only the most ethical advice."

Firstly, please be assured your details will be sent over a secure connection. Then, a specialist IVA advisor will call you discretely to discuss your situation.

He or she will ask some simple questions about your personal circumstances; your debts and about your household income. Once we have this information, we'll be able to advise on the options open to you.

This is an informal consultation; without obligation and can be completely anonymous at this stage if you prefer. Once you are empowered with the advice we can offer; you'll be in a better position to make an informed choice as to what to do next, even if that means you decide you don't need our help.

What is the impact on my Credit Rating?

During the IVA, you will normally not be allowed to borrow more money. A major benefit of an IVA is to make possible the repayment of unaffordable debts, so the ability to borrow more should be furthermost from your mind when considering one.

A record of your IVA will be retained by credit reference agencies for six years.

Fees and Costs:

Initial debt advice is free but fees are payable if a debt solution is agreed and provided.

Chargeable fees are made up of:-

  • Nominee's fees which relate to the assistance given to prepare your proposal and to hold the crediors meeting will be taken from the first payments made into your arrangement.
  • Supervisor's fees which relate to the ongoing monitoring, supervision and administration of your IVA and which will be charged on a monthly basis and deducted from the contributions you pay into the arrangement.

No further fees are payable by you.

For more information see - explanation of IVA Fees.

Cooling Off Period/Right to Withdraw

You can withdraw your proposal for a voluntary arrangement at any point up and including the day of your creditors' meeting. Once the arrangement has been approved at the creditors' meeting and you have agreed to be bound by its terms, you have entered formal insolvency proceedings and no cooling off period applies.

Trust DebtFree to help you with your debts

IVA Client Stories
Real interviews with IVA clients who have successfully completed their arrangement and are happy to tell their stories for the benefit of others.

We are a REAL solution provider - many are not.

Many of the debt solution web sites on the internet are just marketing agencies rather than companies providing the service you're looking for. All they do is capture your details and sell them on. The same is true of the financial comparison websites.

We are part of Harrington Brooks and as of April 2014, we have over 65,000 clients trusting us to help repay debts.

Contact Us and we alone will handle your enquiry in the strictest of confidence.

Advice You
Can Trust

No.1 for IVAs
We set up more IVAs
in 2013 than any other
provider, by some
distance. *** more »

We've over 16,000
current IVA clients.

We've over 1,700 online reviews and are rated No.1 IVA provider on ReviewCentre.com

Our IVA clients repay on average 45% of their debt* to become Debt Free.

96.4%** of our IVA proposals accepted by creditors.

*repaid upon successful IVA completion. Total repayable depends upon personal circumstances.
** last 3 month average
*** undisputable Insolvancy Service figures.

DebtFree is part of Harrington Brooks.

Reviews of Harrington Brooks

IVA example

If your debts are currently as follows...

Overdraft £3,000
Credit Card 1 £4,000
Credit Card 2 £6,000
Personal Loan 1 £16,000
Personal Loan 2 £4,000
Total Debt £33,000

After entering in to an IVA, they could be...

Monthly payments £260
Total repayments £15,600

Debt Write Off: 53%

Payment levels are based on individual affordability of applicant.

Take action today, and sleep better tonight.
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