IVA - Individual Voluntary Arrangements

When the IVA is successfully completed, your unsecured debts will be written off and you will be debt free. (If you're a homeowner, you may have to free up some of the equity in your home during the course of your IVA.)

How an IVA can help with your debts

An IVA (Individual Voluntary Arrangement) can be an excellent way to solve serious debt problems, leaving you completely debt free in (normally) 60 months. It could lower your monthly repayments, stop demands from your creditors and freeze the interest and charges on your debt. What's more, once the IVA is completed, any outstanding debt will be written off.

How do I get an IVA?

Because an IVA is a legally binding agreement, it can only be administrated by an Insolvency Practitioner. They will only recommend you for an IVA solution if it is right for your financial circumstances.

Your suitability for an IVA will be assessed and the Insolvency Practitioner will draw up a 'plan' based on what you owe and what you can reasonably afford to repay each month, which is then submitted to your creditors.

Your creditors will then vote on whether or not to accept your IVA and, if the majority (creditors holding 75% of the debt value or more) agree, your IVA will go ahead.

Why choose a Think Money IVA?

With over fifteen years' experience in providing IVA solutions, Think Money enjoys a consistently high IVA approval rate. Our excellent working relationships with creditors, combined with our knowledge of approval criteria mean that we will only recommend an IVA if we believe it will be accepted.

Call the IVA experts for free advice today

Think Money has helped hundreds of thousands of people with free debt advice on a wide range of financial solutions including IVAs.

When you call, an IVA expert will discuss your financial situation, in confidence and without any obligation or pressure, so that they can assess your suitability for an IVA.

Impartial advice you can count on

As everybody's circumstances are different, Think Money offers a wide range of financial products, designed to tackle different debt requirements. You can rest assured that when you call, we will discuss your circumstances and provide free, impartial advice on what's best for your situation. We'll only recommend an IVA if we believe it is the best solution for you.

Read our IVA frequently asked questions here »

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Subject to eligibility and acceptance. Debt write off applies only on completion of an IVA, alternative solutions may be offered. Initial advice is free, fees payable for continuing services. Your ability to obtain credit will be affected for 6 years. Homeowners may be required to release the equity in their property. Calls may be recorded.