Top 10 key facts about IVAs

When searching for IVA facts it's crucial that you ask the right people.

Unfortunately, the facts surrounding IVAs are often exaggerated in an attempt to make IVAs more appealing, the fact is though in the correct circumstances the IVA is appealing enough anyway.

At My IVA Adviser we would much prefer to outline the IVA facts for you and allow you to make your own mind up.

Top 10 IVA Facts

So here are 10 Key facts about IVAs:

  1. IVAs have a fixed term, which is normally 5 years.
  2. IVAs will legally write off any outstanding debt when the IVA finishes.
  3. Monthly repayments are set at an affordable amount prior to the IVA starting.
  4. Only unsecured debts can be included in an IVA
  5. Only total debt levels over of £10,000 will qualify for an IVA.
  6. An IVA stops creditors from taking legal action against you.
  7. An IVA is a formal alternative to bankruptcy.
  8. IVAs are private agreements and are not published in the press.
  9. Only an Insolvency Practitioner can administer an IVA.

The list above is not exhaustive as there are plenty of other important facts surrounding IVAs we've not listed here.

If you'd like to discuss any of the facts above, why not give our helpline a quick call on 0800 088 7503 where an IVA adviser is waiting to have a chat with you now.

Need our help?

My IVA Adviser are IVA specialist, so if you're looking to apply for an IVA and are looking for the best IVA company to approach, simply call 0800 088 7503. Or fill in the form below and we will call you back at a time convenient to you.

Ask for Help

Key Information
  • We only use your personal data for the purpose for which you provided it.
  • We only share select data with external parties where it is necessary in relation to the services that you have requested we carry out on your behalf, and we'll always ask for your consent beforehand, or if we are required to do so by law.
  • You can always get in touch to ask us what personal data we hold and to correct and update your data if anything changes. For an overview of your rights check out our Privacy Policy.
  • By checking the “Agreement and Consent” box you agree and give your consent for us to use your information for the purpose described.

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.

'www.my-iva-adviser.co.uk' is a trading styles of IVAorg CIC. Company Number: 08560305 | Data protection registered ZA033231
IVAorg CIC is authorised and regulated by the Financial Conduct Authority (FCA) | Firm Reference Number (FRN) 684439