Individual Voluntary Arrangement (IVA)

If you have a debt problem, one of your options for sorting it out might be an Individual Voluntary Arrangement (IVA). An Individual Voluntary Arrangement may be appropriate for you if you have more than £5000 of unsecured debt and are finding it difficult to afford your repayments. An Individual Voluntary Arrangement is a solution only available in England, Wales & Northern Ireland

Remember, an Individual Voluntary Arrangement might not be your only option and it might not be the most appropriate debt solution for your needs. Our trained advisors can assess your financial situation and help you find the most suitable option for you.

Listed below are some of the Main Advantages & Disadvantages of a Individual Voluntary Arrangement

DCS Logo New Site


  • An IVA offers you legal protection from your included creditors

  • An IVA usually has a fixed term of 60 months/ 5 years, and at the end of the arrangement, any outstanding balances on included debts will be written off

  • The payment you make into an IVA is based on your Income and Expenditure so should always be affordable to you

  • There are no upfront fees; fees are incorporated into your monthly IVA payments and vary between IVA companies

  • Interest and charges on included debts will be frozen


  • Any debts not bound by your IVA will remain outstanding

  • Your credit file will be affected for 6 years and you will be restricted from obtaining credit during the IVA. Your ability to obtain credit may also be affected

  • An IVA can impact on certain jobs such as those in finance and the Civil Service, if you are unsure check your employment contract

  • Homeowners may be asked to re-mortgage 54 months into the IVA; if this is not possible you may be required to extend your IVA by a further 12 months. A remortgage may attract higher interest rates

  • Failure to keep up with IVA payments may result in your creditors filing for your bankruptcy

  • Restrictions will be placed on your expenditure once entering in an IVA

  • Some creditors may not approve an IVA Proposal

  • Because this is a formal solution your details will be placed on a publicly viewable register

Get Debt Help Today

What Is Your Debt Level?


Are you currently behind with payments?

What is your employment status?

Contact Details