Individual Voluntary Arrangements for Debt Management
Manage your personal debts effectively with our IVA services.
Understanding Individual Voluntary Arrangements (IVAs)
An IVA can be an effective solution for individuals struggling with unsecured debts. It allows you to make affordable monthly payments based on your financial situation, providing relief from creditor pressure and legal actions.
We begin with a thorough consultation to assess your financial situation and determine if an IVA is the right solution for you.
We help you prepare a detailed proposal outlining your repayment plan, which is then submitted to your creditors.
We coordinate with your creditors to gain approval for the IVA. If 75% of the creditors (by value of debt) agree, the IVA is approved.
Once approved, the IVA is legally binding. We manage the implementation, ensuring you make regular payments as agreed.
We provide continuous support throughout the IVA term, helping you stay on track with your repayments and offering advice on managing your finances.
FAQs about Individual Voluntary Arrangements (IVA)
Explore frequently asked questions related to this topic.
An IVA is a legally binding agreement between an individual and their creditors to repay debts over a set period.
An IVA usually lasts 5 years, after which any remaining unsecured debt is written off.
Unsecured debts such as credit cards, loans, and overdrafts can be included in an IVA, but secured debts like mortgages cannot.
Individuals with regular income, unsecured debts over £6,000, and the ability to make monthly repayments are eligible for an IVA.
Yes, an IVA will negatively impact your credit score and remain on your credit file for 6 years.
Meet Our Team
Get to know the dedicated professionals at Kennway Francis.
Melissa Jackson
Licensed Insolvency Practitioner
Over 20 years of experience in insolvency.
View My Profile
Chris Towler
Insolvency Senior Case Manager
Over 15 years of experience in corporate and personal insolvency.
View My Profile
Stella Walker
Office Manager
Experienced in financial management with a CIMA qualification.
View My Profile
Lindsey O'Shea
Financial Assistant and Cashier
Over 14 years of experience in cashiering and financial management.
View My ProfileGet In Touch
Need assistance or have questions? Complete the form below, and our team will respond within 1-2 business days.
By using this contact form you agree to our Terms & Conditions and our Privacy Policy.
Access Creditor Portal
Important Notice: Office Holders who act as Administrators act as agents for the company and contract without personal liability. Where a company is in Administration, the affairs, business, and property of the company are being managed by the Administrator, who acts as agent of the company. Melissa Jackson is licensed as an insolvency practitioner in the UK by the Institute of Chartered Accountants in England and Wales.
Access Creditor Portal