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IVA Agreement

IVA Agreement

An IVA agreement offers someone with a serious debt problem the opportunity to reach a new repayment schedule with their creditors.

Once it has been accepted, the IVA agreement is a formal agreement which is legally binding on all the creditors.

The IVA agreement is an alternative to bankruptcy.

The IVA repayments are based on affordability for the debtor.

The IVA agreement has a fixed time period which is normally 5 years, after which the debtor will become debt free, with any unpaid debts being legally written off.

IVA agreements were introduced in the Insolvency Act 1986, and have allowed thousands of individuals the opportunity to repay to their creditor what they can afford, for a fixed time period, saving them from having to declare themselves bankrupt.

Not everyone will qualify for an IVA agreement so click here to see if you qualify for an IVA.

Or read this article for a deeper insight to the IVA agreement process.

My IVA Adviser specialise in helping people enter into IVA agreements.

If you would like to take advantage of our ‘no obligation’ IVA consultation service, please call 0800 088 7503.

If you would like further information on the IVA subject, take a look at our IVA articles section, or why not take a look at our IVA calculator and see if you qualify for an IVA today.


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