An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and your creditors to repay your debts over a set period, typically five years. Our IVA services at Debtfixsolutions help you manage unaffordable debt by creating a structured repayment plan tailored to your financial situation. This solution can prevent bankruptcy and stop creditor actions like bailiffs or court orders.
Our experienced advisors will assess your finances, negotiate with creditors, and set up an affordable monthly payment plan. An IVA can write off a portion of your debt, freeze interest, and provide peace of mind, allowing you to focus on rebuilding your financial future.
To qualify for an IVA, certain criteria must be met. Our team will guide you through the process to ensure a smooth application and approval.
An IVA will be recorded on your credit file for six years from the start date, which may impact your ability to obtain credit. However, completing an IVA can improve your financial stability and creditworthiness over time.
In most cases, an IVA allows you to keep your home, as it focuses on unsecured debts. Our advisors will work to protect your assets while structuring the IVA agreement.
Upon successful completion, any remaining debt included in the IVA is written off, and you are released from the agreement, giving you a fresh financial start.
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