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What is an IVA?

Individual Voluntary Arrangement commonly known as IVA is one of the best debt solutions thanks to which many indebted people avoid going through the severity of bankruptcy.

IVA consists in a legally binding agreement with your creditors which usually lasts five years. During this period you pay back what you can realistically afford every month and the rest is written off, in settlement of your debt. In fact, IVA usually helps people to have a good part of their debt written off. If you need free IVA advice, Debt Mentor also provides free advice on IVA as part of our debt management solutions. In fact, one of our Insolvency Practitioners will help you prepare your Individual Voluntary Arrangement proposal, tailored to your financial situation.

However, before an IVA is approved, the creditors that represent 75% of your total amount owed must agree to the terms. By keeping to the terms of your IVA, any outstanding debt at the end of the period can be written off. If you need to know more about IVA debt help or any other debt help service, then fill out the form on this page and contact our debt advisors.


IVA advice


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