IVA

Individual Voluntary Arrangements

For further information on individual voluntary arrangements click on the following links:

If your debts are spiralling out of control, and you are considering bankruptcy as the only option, think again!

Main Points - IVA

Here are just some of the benefits of taking out an IVA:

  • Up to 60% of your IVA debts can be written off as part of the arrangement
  • Once you have an IVA in place your creditor won’t be able to make demands for payment
  • If a few creditors don’t vote for an IVA, it can still be set up provided the majority of creditors vote in favour of it
  • Once an IVA has been set up, all creditors are legally bound by it
  • With an IVA you can continue to be a director of a company whereas in bankruptcy you cannot
  • A creditor cannot take you to court if you have an IVA

By taking out an IVA you could solve your debt problem and be free of the restrictions and stigma associated with bankruptcy.

Give us 5 minutes and we'll give you:

  • Advice on all debt solutions that you may apply for
  • If your debt can be written off
  • Explain any interest or charges that can be frozen
  • Honest, no obligation advice

Some solutions, such as a Debt Management Plan or an Individual Voluntary Arrangement involve costs when the plan is set up.  These costs are there to cover the expenses and work undertaken on your behalf.  You will always be told clearly about any costs upfront.  Other solutions, such as a Bankruptcy incur costs which are payable to the Court; Debt Relief Orders incur costs which are payable to the Insolvency service.

Debt Direct is a trading name of Tatstar Limited. Tatstar holds a consumer credit license to offer debt counseling. Your enquiry will be passed to a selected third party who will contact you to discuss the most appropriate solution for your circumstances.