IVA Individual Voluntary Arrangement

IVA stands for Individual Voluntary Arrangement.

An IVA is an affordable, legally binding, agreement between you and your creditors - the people and organisations you owe money to, (other than your mortgage and any other loan secured on your home). An IVA is arranged by a licensed insolvency practitioner who, as your nominee, is legally authorised to represent you in negotiations with your creditors.

An IVA is often a solution people consider when they feel there is no real prospect of paying off all of their debt. Read more about what is an IVA.

Can I get an IVA? »

Find out in less than 20 seconds if your circumstances allow an IVA.

Benefits of an IVA

If you complete an IVA (usually over five years) you can:

Avoid bankruptcy

Reduce your monthly repaymentsto a level you can afford

Stop hassle from your creditors

Freeze interest and charges on all your unsecured debts

Write-off all the debt you cannot repay within the IVA.

How an IVA, Individual Voluntary Arrangement can affect you

An IVA is a serious financial undertaking that usually lasts five years. There may also be negative consequences to an IVA and everyone's circumstances are different.

We have an extensive IVA Frequently Asked Questions page all about IVAs and you can also ask, free of charge, anonymously and in real time, a qualified debt advisor for specific debt advice.

An IVA with ClearDebt to help you become free of debt

ClearDebt can offer a number of advantages over other organisations offering an IVA:

Zero upfront fees for setting up an IVA with your creditors

Immediate advice by phone and online, no waiting

Qualified advisors on call, not commission telesales

Insolvency practitioners representing you, no passing your details to an external panel

Competitive IVAs setup for lower debt amounts than most other organisations (as low as £10,000)

Success rate of proposing IVAs to creditors of more than 95%

There are a number of criteria you must meet if you are to be eligible for an IVA. Read in more detail to find out if an IVA is right for you or check out the advantages and disadvantages of an IVA.

Can I get an IVA? »

Complete a short form and find out if an IVA is for you or call us on 0800 019 2095 to discuss your financial options.

IVA as an alternative to bankruptcy

Unlike bankruptcy an IVA can protect your home from forced sale and your professional reputation is not at risk.

There are a number of significant differences between an IVA and bankruptcy which is a severe financial option. Read about the advantages of an IVA over bankruptcy.

IVA fees and costs

ClearDebt do not charge upfront fees for debt advice given prior to the IVA being prepared and do not charge for services up to the point where you return your completed, agreed creditor documentation to ClearDebt.

The fees ClearDebt charge for initiating and supervising your IVA are included in the agreed amount you pay each month into your arrangement. There are no additional or hidden IVA costs from ClearDebt. Read more about ClearDebt's IVA fees.

IVA and your Insolvency Practitioner at ClearDebt

Unlike other companies, ClearDebt employ licensed Insolvency Practitioners who are the only professionals allowed by law to work with your creditors to arrange an IVA.

ClearDebt do not pass your details to intermediaries or middle men in exchange for a commission to arrange your Individual Voluntary Arrangement (IVA).

Read more about what a licensed Insolvency Practitioner does at ClearDebt.

Trusted IVAs with ClearDebt

ClearDebt arrange thousands of IVAs every year for individuals in debt. We have published many IVA stories about customers in similar situations that you can learn from.

They were very quick whereaas my previous company never answered my queries or came back to me. The contact from ClearDebt was excellent.

Beech - 8th June 2011 - iva .com

If you want to pose a question to another IVA customer or consult a qualified ClearDebt advisors free of charge, try our community pages.

You can also find extensive independent reviews of ClearDebt on IVA comparison websites.

Can I get an IVA? »

Complete a short form and find out if an IVA is for you or call us on 0800 019 2095 to discuss your financial options.