IVA suitability

If you would like to talk to us in person about whether and IVA is suitable for you then please call us on 0800 804 7447 for a free confidential consultation.

You can also fill in our enquiry form and we'll get back to you.

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Individual Voluntary Arrangements (IVAs) are most suitable if you have debts which cannot be met and there is a need to avoid bankruptcy or alternately you own your own home and want to keep this.

It maybe you need to avoid bankruptcy for a variety of reasons. It could be the job you have does not permit you to be a bankrupt, you are a company director, restrictions on obtaining credit would prevent you from trading or simply you do not under any circumstances wish to be made bankrupt – if any of these reasons strike a cord with you give us a call – we maybe able to help you.

Career prospects

In circumstances where bankruptcy may prevent you from keeping your job or moving up the career ladder you may wish to consider an IVA. Your career progression could see you have income surplus to your daily requirements which could be paid into an IVA over a period of up to 5 years and allow your creditors to be paid from this surplus.

If you own your own home

An IVA may be the most suitable option where the main asset you own is your property and you wish to continue living there. In these circumstances, you may wish to consider re-mortgaging as an option and the making of a bankruptcy order would make this extremely difficult. You could propose a voluntary arrangement on the basis that you re-mortgage your property later in the arrangement and the funds are paid into your IVA.

Third Party funds

You may be in a situation where you wish to keep some of your assets, for example your house or a motor vehicle and a third party could put into an IVA cash equivalent to the value of the asset. This may allow you to keep the asset in question.

If you’re not sure what information you need or you want to discuss all your options please feel free to give our team a call on 0800 8047447 for a free confidential consultation.

Or complete our enquiry form and we will call you back