By using our free online IVA checker, you can quickly find out if you’re eligible. Once you’ve been cleared, an expert adviser will be in touch to further understand your circumstances. From there, we’ll work out how much you’ll be able to pay on a monthly basis.
If it looks like a suitable solution for you, a proposal will be put together for your lenders. Most proposals are accepted, but it’s up to them if they wish to go ahead. Once it’s approved, it’s your legal requirement to meet the monthly repayments agreed in your IVA.
Once your IVA has ended, your remaining debt is written off. Do note, however, your expenditure is restricted on an IVA and if your IVA fails then bankruptcy could be a possibility.