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!

Will I Qualify

You will generally be suitable for an IVA if your meet many of the following criteria:

  • If your debts total at least £15,000
  • If your are considered insolvent, which means that your debts are in excess of the value of your assets
  • If you can afford to pay at least £150 per month in repayment of your debts.
  • If you have a regular income
  • Once an IVA has been set up, all creditors are legally bound by it
  • If the level of your debts are so high that repayment by IVA would be much quicker than by DMP due to the proportion of IVA debts that are written off

However, every set of circumstances is different. We will be able to give you individual advice tailored to your financial situation if you get in touch with us by filling in our online form.

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.