How Does an IVA Work?

To begin the IVA process you need to get in contact with us so we can take your details and see if you qualify.

If you do then you can expect your IVA to follow the below time frame, which details the average number of days taken to process your paperwork.

IVA Process 

Day 1: You make initial contact with us
One of our expert advisors will determine whether an IVA is the best option for you. We send our "Fact Finder" pack to you.

Day 7: You send signed "Fact Finder" pack back to us incorporating supporting documentation.

Day 10: We draft your IVA proposal based on your unique financial information, and issue it to you.

Day 15: You sign our IVA proposal and send it back to us. We will organise all the required meetings with your creditors and any administration tasks until…  

Day 36: …your IVA proposal has been agreed, and you can begin to make payments so you are on the road to clearing your debt.
Creditors can now no longer take any further action against you or add any interest and charges to your debt.

Month 60: Congratulations!
You are now FREE FROM DEBT

If an IVA sounds like your best way out of debt then please contact us today on 0808 131 9108 or fill in our Quick Enquiry Form so we can call you back.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

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.)