Our IVA debt solution is
fast, easy, proven…
and FREE!

Call the IVA Helpline: 0800 195 9399

Call the IVA Helpline: 0800 195 9399
Our IVA debt solution is
easy, tested and proven…
and it’s FREE!

How to start an IVA

Once you decide to start an IVA we will help you prepare an income and expenditure statement that will list the names of your creditors and what you owe them. It will also have a summary of your regular income and expenditure which will enable us to agree with you what you can afford to pay each month. You will need to provide us with copy payslips or other proof of earnings if you’re self-employed, bank statements and other documents depending on your individual circumstances.

When we have collated the documents we will run everything through our quality control process to make sure it’s accurate. Your case will then be passed to our Insolvency Practitioner (IP) who will prepare an IVA proposal for submission to your creditors.

When you approve and sign the IVA proposal each of your creditors will be sent a copy and they will have two weeks to consider it. They can accept it, accept it with suggested modifications, reject it or take no action. No change can be made to your IVA proposal without your agreement.

At the end of the two week period provided it is accepted by creditors representing 75% of the debts owed to those creditors who vote, it will be approved and binding on all creditors who must then freeze interest and other charges. Following approval of your IVA the IP will manage all contact with your creditors and you will make one low monthly IVA payment to the IP.

At the end of the IVA period, provided you have kept up your payments, any outstanding debt will be written off under the law and you will be debt free and have a fresh start.