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Individual Voluntary Arrangements (IVAs)
What is an IVA?
An IVA (Individual Voluntary Arrangement) is a government solution created to help people clear their debts instead of going bankrupt. With an IVA you only pay back what you can afford to pay each month.
Because an IVA is legally binding, your creditors cannot alter the terms of the agreement at any stage.
At Samuel Debt Consultancy, we endeavour to make sure that it is the final option.
The duration and payments of an IVA are fixed. In most cases a large portion of your debts are legally written off. This means you could only pay back a small percentage of your debts.
You will know exactly when you will be debt free .
Do you qualify for an IVA? Is an IVA right for you?
1) Do you have debts over £15,000?
2) Can you afford to pay at least £200 to your creditors each month?
3) Are struggling to repay your monthly creditor payments?
The points above are only guidelines. It could be possible that you will qualify for an IVA.
To find out contact us now or fill out the form on the bottom of this page. One of our friendly advisors will be glad to help better your situation. Remember, all our advice is free, confidential and without obligation so you have nothing to lose.
Will your debts be written off?
You will see lots of companies quoting that they can write off 90% of your debts. This is not very likely and these firms are usually not reputable IVA providers.
You could see 60-70% of your debts written off (based on our average client IVA cases).
The total debt written off is unique to your circumstances and what you can afford to repay over 60 months. After 60 affordable months of repayments, any remaining debts will be written off.
Although it may sound like it, an IVA is not a miracle solution but it may be the solution for you
Our IVA Guarantee - No Win / No Fees
Unlike some companies who provide the same service as us, we will never take any upfront fees.
An IVA is structured in such a way that your creditors agree how much fees are charged for setting up and supervising your IVA agreement. This fee is taken from the overall amount that you pay into the arrangement so you will never receive a bill from us. You will only ever pay 1 monthly payment.
Since the fees are decided and settled by your creditors, you only need to worry about choosing the right IVA provider who will give you the service you require. We work alongside some of the longest established IVA providers in the UK and have a very high acceptance rate for IVA's.
We are not a call centre so you will not be waiting in a long queue of callers.
We are expert debt advisors and will not recommend an IVA unless it is suitable.
NOTE: Some firms try to charge for advice and setting the arrangement up.
NEVER PAY ANY UPFRONT FEES FOR ADVICE OR TO SETUP AN IVA.
Want to know more?
Apply for an IVA
Read our IVA Frequently Asked Questions (FAQs)
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