IVA - Individual Voluntary Arrangements

Please see our table of IVA providers below. IVAs were introduced by the Government in the late 1980s, allowing individuals to regain control of debts by entering an agreement with creditors. Usually this will include a promise by the individual to pay off all debts via one monthly payment within a certain time frame (usually around five years).

Taking an IVA means that you do not have to deal directly with your creditors – this will be done by the IVA broker. Legal action will also be removed. Generally, IVAs are for people who have debts of at least £15,000 and two or more creditors. When looking through the providers, take your time and consider individual terms and options before making a choice. Once you have made a decision on your provider, simply click on 'Apply'.

COMPANY	DEBT OPTIONS	MIN DEBT	MIN MONTHLY INCOME	WRITE OFF OPTIONS	ID REQUIRED	APPLY
Debt Assist 123	IVA / Debt Management	5,000	50	Up to 70%	ID may be required
	ClearDebt123 provide trusted debt relief solutions. This UK-based company claims to help you write off up to 70% of your debts. Apply for an IVA via an easy online form. Both homeowners and tenants are eligible.					Terms Terms The content of ClearDebt123 website is meant to be informational and it should not be considered financial advice Services Services IVA and Debt Management Advantages Advantages Minimum debts only need be £5,000 Homeowners and tenants welcome   Disadvantages Disadvantages Must apply to find out more Website is cagey on details Must have at least 2 creditors
Clear Debt	IVA / Debt Management	£10000	N/A	Up to 70%	ID may be required
	Clear Debt try to reduce your monthly payments with an IVA by up to 70% by handling negotiations with all your creditors, so that you only have to make one affordable payment each month. Clear Debt can propose solutions for people with unsecured debt of around £10,000 – and sometimes even less!					Terms Terms Debts over £10,000 Services Services IVAs Debt Management Advantages Advantages Free debt advice Have debts lowered Disadvantages Disadvantages May not solve debt problems Bankruptcy orders may be shorter than IVA
Trapped.co.uk	IVA / Debt Management	1500	N/A	60%	Name, address, work details, credit score, how much debt, partners details
	Trapped.co.uk offers Debt Management Plan advice, IVAs and Trust Deeds (Scotland) for people struggling with their debts. Find out if you qualify online.					Terms Terms Apply online for more information Services Services IVA, Debt Management, Trust Deeds (Scotland) Advantages Advantages Lots of debt solution options Plenty of lenders sourced Write off up to 60% of debts Disadvantages Disadvantages Must apply to find out more Application can result in 'footprint' on credit file