IVA - The Process

• Initial Client contact via Free Phone or Contact Form

• Debt Adviser arranges 40 minute call to assess your debts and debt solutions available to you.

• If IVA is deemed appropriate, you are then put on a Debt Management Plan. NOTE: This means that your creditors are being spoken to straight away and gives you, the client a safety net just should the IVA is rejected by the creditors.

• Debt Management Application Pack sent out to your preferred address for Signature

• Debt Management Application Processing (please allow 8 days)

• Debt Adviser arranges a call back to you at a preferred time to go through IVA Application

• IVA application sent out to your preferred address for Signature

• IVA Application Proposal processing (Via Draft Officer)

• Official IVA Proposal sent to your preferred address for FINAL Signature

• Debt Adviser arranges Creditor meeting for 17 days after receipt of signed IVA Proposal. (You do not have to attend this)

• If agreed by 75% of Creditors, the IVA begins (75% of the value (debt) of creditors that choose to vote)

• Average time for process completion, between 4 - 6 weeks

Find out more about:

IVA FAQs
IVA Alternatives
IVA Case Studies

Further Debt Help and Advice

Subject to availability and acceptance. Debt write-off applies on the completion of and Individual Voluntary Arrangement. Alternative solutions may be offered. Repaying debt over a longer period of time may increase the total amount to be repaid. Whilst on an IVA and for a year after completion your credit rating will be affected.