An IVA usually consists of 60 monthly payments into a fund over a five year period.

In order for an IVA proposal to be accepted by creditors, they will normally expect to get back at least 25% of what you owe them. 

Your monthly debt  repayment amount will vary depending on the size of debt you have, what assets you have and how much money you have available after your living expenses have been deducted from your monthly income. 

The amount will be set at a level which is affordable and sustainable for a period of 5 years, but you will need to be able to afford a monthly payment of at least £200.

An IVA can only be prepared and supervised by a qualified licensed Insolvency Practitioner, so there are professional fees to pay. However you will not be expected to pay these fees directly yourself, instead the fees will be taken from your agreed monthly payment. 

Unlike with some other providers, there are no up front fees or hidden costs.

We recommended you complete our no obligation enquiry form to get FREE professional and impartial advice from a licensed Insolvency Practitioner, so you can be sure that you have all the facts and are choosing the most appropriate debt management solution for your particular situation.