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Debt

Individual voluntary arrangements (IVA)

With an Individual Voluntary Arrangement (IVA) you could be debt free within 5 years as well as having legal protection from further interest and charges being added to your debts.

Despite consumer debt creeping into most of our lives, not many people have actually heard of IVAs. They are essentially similar to debt management and consolidation except an IVA is a legally binding way of structuring and managing your debt. Being a more formal programme there are some minimum conditions that must be satisfied including:

  • a minimum of £15,000 of unsecured debt
  • at least £200 to offer for monthly payments
  • a minimum of three debts from different sources
  • policy holder must have a regular income


If you meet these requirements and feel a structured plan of action for paying off your debts would work best for you then let myfinances.co.uk help. We will compare Individual Voluntary Arrangements for you to find you the best deal around.

Click below to find out more and how you could benefit from controlling your debt with the help of an IVA.

Related articles 

  • Brits in the dark over IVAs

    Brits in the dark over IVAs

    As many as 49 per cent of Britons do not know what an individual voluntary arrangement (IVA) is, or understand its role in alleviating debt. More...

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