IVA Process
The IVA process will begin with one free phone call to us. For those that qualify, an IVA can be the best way to sort out serious debt problems and we can help you to begin your debt free future.
The time frame detailed below details the average number of days which it takes us to set up an IVA:
 | You start the ball rolling by making contact with us. One of our experienced IVA advisors will determine whether an IVA is your best option. If so, then we will send our "Fact Finder" pack to you. |
 | You need to send a signed "Fact Finder" pack back to us, making sure to include any supporting documentation. |
 | We will draft an IVA proposal based on the information received from you. We send it out to you to read through and sign. |
 | You send back the IVA proposal. This will be submitted to a creditors meeting, and we deal with any administration tasks until… |
 | …your IVA proposal has been agreed! You can begin to make affordable monthly payments. |
 | Congratulations, the 60 month period is up, you are now free from debt! |
There is no guarantee that your IVA will be accepted, but an Insolvency Practitioner would not propose an IVA that isn’t likely to be approved. If 75% (in terms of debt value) of creditors accept the proposal then your IVA is approved.
If this sounds like the perfect option or you want some more information, please fill in our Quick Enquiry form or call us free on 0808 131 9101.
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.)