IVA Companies

If you're looking for IVA companies to help you get out of debt, it won't surprise you that there are some really good IVA companies and some let's say, not so good ones out there. The good news is we know exactly who the IVA companies you should be talking to are and will help you find the right one now.

When evaluating an IVA company the key areas of distinction are:

  • Was an IVA advised correctly? (this is an assessment of their neutrality)
  • Is the IVA company charging for the IVA or is it a free IVA?
  • What is their success rate in getting an IVA accepted?
  • How good is their support during and the IVA?

Our charity advisors can help you find the best IVA company for you

Call our confidential charity helpline and if an IVA is best for you, they will help organise an IVA application via one of the UK's best IVA companies.

Summary

What is an IVA

  • Introduced by the Government in 1986 as a way of helping individuals not become bankrupt
  • You need to owe more than £15,000 and you or your partner be employed
  • Typically you can write-off 50% - 60% of your debt and pay the balance over 5 years (60 months)
  • Interest and charges stop and creditors can't change their mind
  • Your home is protected but you will be required to release any equity you have any
  • It's a popular debt solution with nearly 40,000 IVA's started in 2008, that's one every 13 minutes
  • We only recommend organisations that have a track record of getting IVA's accepted by creditors and don't charge fees
  • Use our IVA calculator to see if you're likely to qualify


Comparison Table Of Debt Solutions

  Solutions Debts Written Off Legally Binding Interests & Charges Residential Status  
 
Average 58%*
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
  
 
Not Normally
No
Many Freeze
Tenant or Homeowner
  
 
Consolidated
Yes
New Rates & Charges
Tenant or Homeowner
  
 
Bankruptcy is a severe last resort if you are in serious debt and no other debt solution can save you from going bankrupt. Bankruptcy may protect you from your creditors and allows you to start fresh, but you need to think carefully about all the implications involved.
  
 
*58% was the average debt write off with an IVA, April - June 2008, CCCS