What is an Individual Voluntary Arrangement - IVA?

An Individual Voluntary Arrangement or IVA is a formal legal agreement between you and your creditors.

IVA’s are popular because:

they protect you from recovery action that your creditors may take

they usually involve your creditors writing off part of what you owe them

interest is frozen, and

you make one affordable monthly payment over a fixed period of time of usually 5 years

To do one you need a qualified insolvency practitioner.

Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Re10 Debt Advice Helpline on free phone 0800 169 1536