The IVA application process

My IVA Adviser operate a no upfront fee policy for all IVA applications.

By ensuring each IVA application has the very best chance of success at the very beginning of the application process, we're able to boast an IVA acceptance rate of 98%, putting My IVA Adviser at the forefront of all IVA providers.

Starting your IVA Application

All IVA applications begin with an in depth consultation, normally done over the telephone, although a face to face consultation can be arranged if you prefer.

The IVA consultation

The consultation takes the form of an informal chat between you and your adviser, who'll be one of the very experienced IVA team here at My IVA Adviser. The advisers role is, firstly, to determine whether an IVA is a viable solution for you and, secondly, to explore the IVA option with you in full detail.

Together, you'll discuss the potential impacts an IVA may have on your personal circumstances, whilst establishing the size of the IVA contributions that you'll be able to afford.

The informal nature of the consultation provides the best opportunity for you to ask any questions you may have relating to the IVA process and to address any of your potential issues or concerns.

There's no set time for the consultation and there's no such thing as a silly question, so you'll be encouraged to ask as many questions as you like, to ensure you're comfortable and familiar with what lies ahead.

After your consultation, you'll be given further time to consider your options, should you feel the need, before the process moves on to the next stage of formalising your application.

Making the application

Once you've decided to formalise your application your consultant will provide the insolvency team with your personal circumstances, as discussed during your consultation.

Your adviser will then assist you in gathering the supporting documentation and paperwork that will be needed to prepare your IVA proposal.

Your documents will help the insolvency team verify your circumstances and ensure that an IVA is a suitable solution for you.

Drafting the proposal

The application then moves into the drafting stage where your IVA proposal is prepared by an IVA drafter for presentation to your creditors.

It takes approximately 2 weeks to reach the point where creditors are notified of the IVA proposal and a date for the Creditors' Meeting is set.

Waiting for the Creditors' Meeting

Many applicants consider this to be a very stressful part of the process, as they have to play a waiting game.

But there's little that can be done to speed the process up as it's a legal requirement to provide creditors with a minimum 14 days notice period of the Creditors' Meeting.

For the IVA application to be successful we need 75% or more of your creditors to accept your proposal. Once accepted, all the creditors will be legally bound by the IVA, including those that might have voted against it.

Attention to detail

Over the years the team behind My IVA Adviser have built up an enormous amount of experience and, as a result, we know what your creditors will expect from your IVA proposal.

By using the vetting process above to ensure your case will meet creditors' expectations, well before your IVA application is presented to creditors, we're able to remove much of the risk from the IVA application process.

It's this attention to detail that explains why we can brag a 98% success rate of accepted cases at Creditors' Meeting.

Apply Now

If you would like to apply for an IVA through My IVA Adviser please call 0800 088 7503.

There's no charge for the consultation, there's no obligation to act on our advice and your enquiry will be held in the strictest confidence.

Alternatively, fill in the contact form below and we'll call you at your preferred time.

Apply Now

Key Information
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In accordance with the Financial Conduct Authority's guidance, please follow this link if you would like to read a free guide about In Debt - Dealing with your creditors
To find out more about managing your money and getting free debt advice, visit Money Advice Service , an independent service set up to help people manage their money.

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IVAorg CIC is authorised and regulated by the Financial Conduct Authority (FCA) | Firm Reference Number (FRN) 684439