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 Leeds Debt Advice Helpline on free phone 0800 169 1536
If you would like to speak to one of our Leeds Money Advisers directly please call 0113 237 9503 or call to book a face to face meeting with an advisor or enter your telephone number and contact details in the box below and we will call you back as soon as possible.