If you fit the criteria of an IVA then it is usually your best debt solution. All other debt solutions, such as debt management or loans, can actually increase your repayment term.

If you can answer “Yes” to the following statements, then you may be eligible for an IVA.

1. I have unsecured debts of over £12,000.
   Unsecured debts can include credit cards, store cards, personal loans and overdrafts. It is best to get an up to date list of your outstanding amounts, as you may not think that you owe £12,000 but with any interest and charges your debt could have grown to this level.
2. I am insolvent.
   Being insolvent, is not the same as Bankruptcy. It means that you are not able to repay the required payments to your debts each month.
3. I have a stable income.
   You will need to have a stable income if you are on an IVA as it is a repayment plan, and any repayments that are misses could result in severe consequences such as bankruptcy.
4. I am a resident in England, Wales or Northern Ireland
   An IVA is only available to those residing in England, Wales or Northern Ireland. The Scottish equivalent to an IVA is a Trust Deed.

The above is only a generalisation of the IVA criteria, for more in depth advice please call one of our expert advisors on 0800 0481 777.

Terms & Conditions Apply. An IVA is for unsecured debts only, and should only be considered in extreme circumstances as failure to adhere to the IVA agreement could result in bankruptcy. Debt write off only applies when the IVA is agreed by your creditors and you have completed the, typically, 60 month term. Once your IVA commences, your monthly contribution is fixed and there are no additional fees on top. Our fees, paid by your creditors, are taken out of your monthly contributions to your IVA and will be notified to you in advance. Some homeowners may be required to remortgage.