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An Individual Voluntary Arrangement (IVA Solution)
An IVA is a formal agreement between you and your creditors, where you will come to an arrangement with the people you owe money to. The principal is that you will agree to make reduced payments towards the total amount of your debt, in order to pay off a percentage of what you owe. In general terms, after 5 years, your debt is considered as settled.
Due to its formal nature, an IVA has to be arranged by a licensed professional.
All of The Debt Counsel’s accredited companies are highly experienced and fully licensed to advise on IVAs, allowing you the peace of mind that your situation will be resolved quickly and efficiently.
Is an IVA suitable for me?
An IVA is suitable for a person who is finding it increasingly hard to meet their monthly credit commitments. It is a preferred option for those who have assets to lose should they declare bankruptcy. In the case of an IVA, these assets are protected.
Even if you have no assets, then an IVA can represent a better option than bankruptcy for both you and your creditors.
Find out if an IVA is suitable for you, for free, and without obligation.