A IVA is a complicated legal procedure, so we can only give you an estimate about how long it will take for Debts Management to set up your IVA. But please call us today on freephone 0800 0481 777, and from there we will be able to help you begin your debt free future.

What is the IVA Process?

The time frame below is the average number of days taken to process your paperwork

Day 1:
You make initial contact with us.
One of our expert advisors will determine whether an IVA is your best option.
We send our “Fact Finder” pack to you.

Day 7:
You send signed “Fact Finder” pack back to us incorporating supporting documentation.

Day 10:
We will then draft your IVA proposal based on your unique information, and issue it to you.

Day 15:
You need to sign the IVA proposal and send it back to us.
We will deal with your creditors and any administration tasks until…

Day 36:
Your IVA proposal has been agreed, and you can begin to make payments so you are on the road to clearing your debt.

Month 60:
Congratulations!
You have completed your IVA and you are free from debt!

For your IVA to be accepted, 75% of your creditors (in terms of debt value) must accept the IVA proposal. When this happens even those who did not vote for the IVA will be bound by the agreement.

If an IVA sounds like the debt solution for you, please call our Debts Management advisors on 0800 0481 777 or fill in our Quick Enquiry Form so that we can call you back.

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.