This website contains a wealth of IVA information. IVAs are very complex so to determine if an IVA is the right debt solution for you, it is essential that you are informed of the latest IVA information. Please contact our expert IVA advisors for further personalised IVA information.

IVA Information: IVA Definition

IVA is an abbreviation for Individual Voluntary Arrangement, and were established by The Insolvency Act of 1986.

An IVA is a formal agreement between you and your unsecured creditors where you propose a repayment plan that is affordable to you and fair on your creditors. Many people see an IVA is an alternative to bankruptcy as it allows a certain about of debt write off yet allows you to keep your home.

IVA’s are available if you live in England, Wales or Northern Ireland. If you are looking for IVA information but are a Scottish resident, then a Protected Trust Deed is your equivalent of an IVA.

IVA.TV specialise in advising if an IVA is right for you, so for further IVA information please call us free on 0800 0483 651.

IVA Information: Debts an IVA CAN Help with…

An IVA is typically only suitable for those with unsecured debts over £12,000 that fit additional criteria. Only unsecured debt can be included in an IVA, and examples of this include:

• Unsecured loans i.e. Bank Loans (including Doorstop Lenders)
• Bank Overdrafts
• Credit Cards
• Store Cards
• Hire Purchase (HP) shortfall for car (where you no longer have car)
• Disconnected mobile phone bills
• Catalogue arrears.

As part of collating IVA information, you will discover that an IVA can therefore not include any secured debts i.e. secured loans, mortgages or any essential services that you still require. Your secured debts wil be taken into account when deciding how much you can afford to an IVA.

IVA Information: IVA Alternatives:

If your circumstances mean that an IVA is not suitable for you, you will be glad to know that there are IVA alternatives available, including:

• Debt Management Plan: Sometimes an IVA may not be possible because you do not have a high enough level of unsecured debt. If you wish to make your unsecured debts more affordable through a lower monthly payment then a debt management plan could be an appropriate IVA alternative for you.
• Trust Deed: If the reason why an IVA is not suitable for you is because you are a resident of Scotland then a Trust Deed is your alternative. IVA.tv can help you with professional Trust Deed information.
• Bankruptcy: If an IVA is not suitable for you then bankruptcy could be your only option. Always ensure that you get professional IVA information and bankruptcy advice before you declare bankruptcy as you could be more suitable for an alternate debt solution which poses less disadvantages.

IVA Information: IVA Statistics:

CreditAction released IVA statistics in October 2009 which offers you additional IVA information:

• TODAY: 362 people today will be declared insolvent (including IVA and bankruptcies).
• 2009: KPMG estimate that 411 people a day will be declared insolvent throughout 2009 – with one 1 person entering into an IVA or becoming declared bankrupt every 3 and a half minutes

IVA Information: IVA Misspellings:

Common misspellings of IVA (Individual Voluntary Arrangement) include:

• I.V.A.
• Individual Voluntary Arrangment
• Individual Voluntery Arrangement
• Individual Voluntery Arrangment
• Individual Voluntary Agreement

Confused about this IVA Information? Let IVA.tv help…
We have a specialist IVA team who can help answer any questions or queries you may have about IVA. Contact IVA.tv today on freephone 0800 0483 651.