Your IVA Step-by-Step Process
Your IVA process all begins with a simple free phone call (or filling in a quick online form) to us, and from there we can help you to begin your debt free future.
How long does it take to set up my IVA?
The time frame detailed below is the typical number of days it takes to process your IVA paperwork
 | You make initial contact with us. One of our expert advisors will determine whether an IVA is your best option. We send out our "Fact Finder" pack to you. |
 | You send a signed "Fact Finder" pack back to us with incorporating supporting documentation. |
 | We draft your IVA proposal based on your unique information taken from your "Fact Finder", and then issue it to you. |
 | You sign the IVA proposal and send it straight back to us. We organise meetings with your creditors and any administration tasks until… |
 | …your IVA proposal has been accepted, and you can begin to make monthly payments so you are on your way to clearing your debts. |
 | Well Done for completing your IVA! You are now FREE FROM DEBT |
Your IVA proposal will be submitted to your creditors who will hold a meeting to vote on whether to accept or reject your IVA proposal. Normally, your Insolvency Practitioner will represent you, acting as Chairman, during this time. There is no guarantee of success, but Insolvency Practitioners would not propose an IVA that isn’t likely to be accepted.
If 75% of your voting creditors (in terms of debt value) decide to accept your IVA proposal, it is approved. All your unsecured creditors are bound by the IVA agreement whether or not they voted.
An IVA is often the best way to resolve unmanageable debt problems. If this sounds like your perfect option or you would just like more information on how an IVA can help, please fill in our Quick Enquiry form or call free phone 0808 131 9100.
Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.
Failure to complete the term of an IVA can result in bankruptcy.
(In Scotland, a PTD is the equivalent to an IVA.)