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IVA FAQ's & Common Questions >
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"Common IVA Questions!"

Is an I.V.A. a loan?

No, an IVA is a legal process where you agree with your creditors a reduced amount of what is actually owed.

Is an I.V.A. possible if I already have CCJ's?

Yes, an IVA can avoid further recovery action after a creditor has obtained a CCJ against you.

I own my home; will I need to sell it?

No, but you will almost certainly have to release any equity in your home into the I.V.A. usually as part of the final settlement of the IVA.

Do I have to be employed?

No, but to agree to an IVA you must have a surplus of income or benefits that is more then your need for living expenses.

Can all my debts be included in the I.V.A.?

No, only unsecured debts iand arrears can be included in an IVA.

Will an I.V.A. stop creditors itaking further actions?

Yes, once the IVA is in place your unsecured creditors protect you from further action.

How long will the I.V.A. last for?

Typically Five Years - However, it does depend on your individual circumstances.

Will my credit rating be affected?

Yes! Once you agree to an IVA, your credit rating will be adversely affected.

What happens if I cannot afford the payments?

Should you have a change of circumstances or for some reason you are unable to maintain payments, your IVA Supervisor can request a variation explaining the reason why.

How long will it take to set up an I.V.A.?

It normally takes from 4 to 8 Weeks to set up an IVA, dependent upon how long it takes to collect all the necessary information.

When will creditors freeze interest?

Immediately following an IVA being agreed, all interest and charges will be frozen.

How do I pay for the supervisor’s services?

Your Supervisor's fees will be taken from the IVA account itself, so effectively your Supervisor's service doesn't physically cost you a penny.


What Do You Need To Do Next?

To get the process up and running and clear your debts once and for all, simply email paul@]

Alternatively, enter your name, telephone number and a time to call in the empty boxes at the top right of this page, (below where it says Request Callback) and we'll call you to let you know the steps involved and how much you might expect to reduce your monthly payments by.

Remember, once your IVA has been approved, the creditors are forced to stop all interest payments on your debts and are unable to pursue you for the debts excluded from your IVA.

So, get all the information you're going to need right now by contacting us via the form above.

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IVA Free Help Client Testimonials image

“Over a period of five years I built up debts of over £47,000 without my wife knowing that I owed a single penny. - I didn't know where to turn!

A friend gave me the IVA Centre's phone number and I have to say Nigel dealt with my situation sensitively and in total confidence.

As a result I was able to walk away from 65% of my debts and now have a low monthly payment. Nigel even persuaded me to come clean with my wife and the release was incredible!"

John W., Chester - Age 54

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"I was down and depressed with my mounting debts, when I found the IVA Centre web site and spoke with Nigel who explained my options.

After only a few short weeks I had my finances back on track and have even managed to find a small surplus income that I've never had before."

Maria C., Lancaster - Age 26

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“I have just been through a bad divorce which has left me with credit card, store card and loan payments that I was unable to afford with only one wage coming in each month.

Thanks to the IVA Centre I was able to cut my debts in half and now have monthly expenditure that I can cope with reasonably comfortably which is a long way from where I was last year. - Thanks again for all your help!"

Dave H., Leicester - Age 32

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