Can any other debt solution write off my debt?

An Individual Voluntary Arrangement is the only debt solution which can write off any part of your debt, apart from bankruptcy. With an IVA, you commit to making set repayments over a period of time (typically 60 months), and any unpaid debt will be written off once you have completed an IVA.

IVAs were introduced as an alternative to bankruptcy. An IVA allows you to avoid bankruptcy implications; therefore it is always advised that you look into seeing if you are eligible for an Individual Voluntary Arrangement before you declare yourself bankrupt.

We have a team of advisors who would be more than happy to help discuss which debt solution is most suitable for you. Call free today on 0800 048 1766.

Please note: If you are a Scottish resident then Individual Voluntary Arrangement legislation is unavailable to you. But there are Protected Trust Deeds which are in a similar vein to an IVA.