Write Off Up To 85%
Of Your Unsecured Debt
An Individual Voluntary Arrangement (IVA) is a legally binding agreement that could help you become debt-free in as little as 5 years.
How Much Could You Write Off?
Use the slider to see how an IVA could reduce your debt
* These figures are for illustrative purposes only and do not constitute financial advice. Your actual IVA terms will depend on your individual circumstances. An IVA is a formal insolvency solution - fees apply and your credit rating will be affected. Seek independent advice before proceeding.
Why Choose an IVA?
An Individual Voluntary Arrangement is one of the most powerful debt solutions available in the UK - offering legal protection, a significant debt write-off, and a clear path to becoming debt-free.
Write Off Unaffordable Debt
An IVA can write off up to 85% of unsecured debt - credit cards, personal loans, overdrafts, council tax arrears and HMRC debts.
Legal Creditor Protection
Once your IVA is approved by creditors, all debt collection stops. Creditors cannot add interest, charge fees, or take legal action against you.
Fixed 5 or 6 Year Timeline
Standard IVAs last 5 years. If you own property with equity you cannot release, the arrangement extends to 6 years - then all remaining debt is written off.
One Affordable Monthly Payment
Pay only what you can genuinely afford each month. Your Insolvency Practitioner negotiates directly with your creditors so you never deal with them again.
What Is an IVA and How Does It Work?
An Individual Voluntary Arrangement (IVA) is a formal, legally binding debt solution available to people in the UK who are struggling with unmanageable unsecured debt. It is administered by a licensed Insolvency Practitioner (IP) who negotiates with your creditors on your behalf.
Under an IVA, you make a single affordable monthly payment for typically 5 years. At the end of the arrangement, any remaining unsecured debt is completely written off - regardless of how much is left. Common debts included in an IVA include credit card debt, personal loans, overdrafts, payday loans, catalogue debt, and HMRC tax arrears.
An IVA requires at least 75% of your creditors by value to vote in favour. Once approved, all creditors - including those who voted against - are legally bound by the arrangement and cannot pursue you for payment.
Full guide: What is an IVA?IVA Eligibility - Key Requirements
- ✓ At least £6,000 in unsecured debt (most IVAs involve £10,000 or more)
- ✓ Debts owed to two or more creditors
- ✓ A regular source of income to fund monthly payments (employed, self-employed, or benefits)
- ✓ UK resident or have carried on business in the UK
- ✓ Some disposable income remaining after essential household expenses
Debts an IVA Can Include
IVA vs Other UK Debt Solutions
An IVA is one of several formal debt solutions. The right choice depends on your debt level, income, and whether you own property.
| Solution | Debt Write-Off | Duration | Keep Home | Min Debt |
|---|---|---|---|---|
| IVA | Up to 85% | 5-6 years | Yes | ~£6,000 |
| Debt Management Plan | None | Varies | Yes | Any |
| Debt Relief Order | 100% | 12 months | Yes (renters) | Max £30,000 |
| Bankruptcy | 100% | 12 months | At risk | Any |
Common Questions About IVAs
Struggling With Debt? Find Out If an IVA Could Help
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Do You Qualify?