Apply for an IVA

An IVA is not something you can arrange on your own; an IVA needs to go through the County Court. An Insolvency Practitioner is authorised by law to put forward your IVA proposal on your behalf. They will be your representative to your creditors, will do their best to get your IVA approved and supervise your IVA throughout its term.

To see if you qualify for an IVA try the One Advice 1 Minute Debt Test which will show you your options.

Contact our specialist IVA advisors today on 0800 019 5870 to see if you can start your debt free future with an IVA. The IVA process can be between four to six weeks so that we get all the forms completed and to arrange a meeting with your creditors. Remember that once the IVA has been approved, it is legally binding between both you and you creditors. All you need to do is pay back a reduced monthly payment for a period of about 60 months.

IVA Tips to know before you apply:

• You need to do your research first, and this site can form a basis of your research as it gives you a basic background to the IVA legislation. Our One Advice advisors can answer any questions you might have, don't hesitate to call us free on 0800 019 5870.
• An IVA is a complex procedure and your eligibility can only be confirmed by talking to an expert who will perform a Fact Find to go through your finances.
• Be aware of the other debt solutions options out there apart from an IVA, that don’t include bankruptcy!

The first thing to do when applying for an IVA is to see whether you qualify for an IVA, and our professional IVA advisors are here to do just that! Please call One Advice today on 0800 019 5870 so we can take details of your finances and help you to begin your debt free future.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

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.)