What is an IVA

What is an IVA

IVA is short for Individual Voluntary Arrangement which is a formal and legal debt solution designed to provide people who are insolvent with a structured process to resolve their debt problems.

What is an IVA meant to achieve: The purpose of an IVA is to enable people who are unable to pay off their debts to come to an agreement with their creditors to pay what they can afford, write off what they can’t afford and to provide a way out of their debt problem.

For free advice on whether an IVA is the solution for you call us now on 0800 007 5021

What is an IVA proposal?

The IVA proposal is a key part of the IVA process and is the proposal put to your creditors to request their agreement on the payments to be made and the amount of debt that will be written off.

In order to be accepted the IVA proposal must be approved by your creditors who make up a minimum of 75% of the total amount of your outstanding debt.

What is the best way to get an IVA?

The best thing to do in the first instance is to get professional debt advice. You need to know that an IVA is the right solution for you and that you qualify. This is an important decision and you need to know the facts before proceeding.

E-P Debt have been providing debt advice for many years and our experienced advisors will assess your financial circumstances and let you know the best options available to you. Our advice is free and confidential so call us now and make a start on the road to a brighter future

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16 Woodside Crescent,
Glasgow, G3 7UT

0800 007 5021
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