Chartered Accountant
Licensed Insolvency Practitioner

41 Kingston Street, Cambridge CB1 2NU
Tel: 0800 1953605 (Free call) or 01223 367022
Fax: 0844 5048737


IVA: Individual Voluntary Arrangements

Clear your debts in 5 years with an Individual Voluntary Arrangement (IVA).

Are you struggling with an unmanageable debt burden? Extra interest eating up all your monthly payments and the debt never reducing? Taking on new debt just to settle other debt?

If you have over £20,000 of unsecured (non-mortgage) debts owed to at least 3 creditors, but can afford to pay at least £300 per month towards them, you can propose an IVA to settle them and clear your debts permanently. Unlike debt management or debt consolidation schemes, once an IVA is approved interest stops and you will be free of unsecured debt at the end of it (usually 5 years), even if creditors have only had back a fraction of what they were owed.

Thinking of doing an IVA with a large company but worried about who you will deal with ? Then come to the personal service IVA practice where each case is handled by me from start to finish.

If, after browsing this site, you want to discuss things further, call me on 0800 1953605 (direct line) entirely without charge or obligation.  An initial consultation to determine your suitability is always free and without obligation.   My fees are paid from the monthly contributions paid into the arrangement. Creditors allow for this when considering IVA proposals.

As a sole insolvency practitioner without expensive staff or offices, I specialise in offering a cost effective solution to debt problems through IVAs for consumer debt cases and the smaller business sector.  I am happy to take on clients anywhere in England, Wales and Northern Ireland.

No approval, no fee IVA, click here for details.  Pay nothing until creditors approve your IVA proposal.

IVA Questions and answers.

I have serious debt problems. What are the options ?

How do I know whether an Individual Voluntary Arrangement (IVA) is the best answer to my problems ?

How do I work out how much I can afford to pay per month ?

OK I'm considering an IVA . How does it work ?

Do I have to attend meetings, or can this all be done by correspondence ?

What do creditors expect from an IVA and how likely is it they'll accept it ?

Are all of them forced to accept the majority decision ? I've got one hell bent on making me bankrupt.

What happens if they don't like the IVA proposal ?

If the IVA is rejected, do I owe you anything ?

I've buried my head in the sand, now I've got a bankruptcy petition hearing next week. Is there something that can be done at this late stage ?

Will an IVA really write off all of my debts ?

Will I live in poverty for the duration of the IVA ?

What if I win the lottery or get a big pay rise ?

Will it appear in the newspapers ? Will people know about it ? Will I ever be able to get credit again ?

Is an IVA more expensive than just going bankrupt ?

What will happen to my house, furniture, car and domestic effects ?

I run a business. How will the IVA affect my business ?

I'm a professionally qualified person. Will I lose my livelihood ?

My partner has no debts, and I'm living with him/her. Will he/she have to contribute to the IVA ?

My partner and I have joint debts. Can we lump them all together in the same IVA ?

How do you get paid ? What does this all cost ?

There are plenty of Insolvency Practitioners or debt advice companies around. Why should I instruct you ?

What happens if I'm unable to keep up with the payments ?

What happens at the end of the IVA ?

What other web sites do you suggest I look at for bankruptcy/IVA advice ?

What if I have a complaint ?

Please note that this site deals only with personal insolvency law in England, Wales and Northern Ireland. By law, only a Licensed Insolvency Practitioner can undertake an IVA for you. If you need an Insolvency Practitioner in Scotland, visit The Institute of Chartered Accountants of Scotland.   Interested in members voluntary liquidation ?

Copyright © Philip Beck Insolvency Practitioner, Cambridge UK, 2005. Bankruptcy and individual voluntary arrangements explained. Free IVA help and information. How to avoid bankruptcy with an Individual Voluntary Arrangement.