here's an example of how we can help you
Everyones debt is unique so this is just an example IVA solution.
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Manage Your Debt with an IVA. Reduce What You Owe
An Individual Voluntary Arrangement (IVA) is a government-approved debt solution that allows you to consolidate unsecured debts into affordable monthly payments. You may be able to write off a portion of your debt and work towards financial freedom.
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What Is an IVA?
An Individual Voluntary Arrangement (IVA) is a government-approved debt solution designed for people with £6,000 or more in unsecured debts. With an IVA, you make one affordable monthly payment (usually over 5 years). At the end of the term, any remaining qualifying debts can be legally written off, including interest and charges.
An IVA can help you:
- Combine multiple debts into one payment
- Protect yourself from creditor action
- Work towards becoming debt free
It’s important to get expert advice before starting an IVA. Speak with us today to find out if this is
the right solution for you.
Benefits of an IVA – Regain Control of Your Finances
An Individual Voluntary Arrangement (IVA) comes with powerful benefits designed to give you
peace of mind, financial stability, and protection from creditors. Here’s how an IVA can help
you:
One Affordable Monthly Payment
Write Off Unaffordable Debt
Stop Creditor Pressure
Freeze Interest & Charges
No Hidden Fees
Path to Debt Freedom
Considerations Before Entering an IVA
While an Individual Voluntary Arrangement (IVA) can provide many benefits, it’s important to
understand the key considerations before deciding if it’s the right solution for you:
Payments May Change
If your financial circumstances improve during your IVA, your monthly contributions may increase to reflect your new situation.
Public Record
An IVA is a formal insolvency process and will appear on the Insolvency Register, which
is a public record available online.
is a public record available online.
Commitment to Payments
It’s essential to maintain your agreed payments. If an IVA fails, creditors may be able to take further action to recover the debts, including those covered by the IVA.
Assets Must Be Declared
Any assets you acquire before your IVA ends must be disclosed. In some cases, these assets may be used for the benefit of your creditors.
Spending Restrictions
To ensure fair repayment, your spending will be monitored and restricted during your IVA. This helps make sure your payments remain affordable while still satisfying creditor agreements.
Excluded Debts Remain Payable
Not all debts can be included in an IVA. Any debts not covered (for example, certain fines or secured loans) will remain your responsibility to repay.
we’ve helped over 1000 people find debt freedom
How to Apply for an IVA Step by Step
1. Get Personalised Advice
Speak with one of our experienced IVA advisors. We’ll review your financial situation and explain if an IVA could be right for you.
2. Explore Your Options
Your advisor will go through all the available debt solutions and help you decide on the
one that best fits your circumstances.
3. Create a Realistic Plan
We’ll work with you to design a repayment plan that’s affordable and tailored to your budget, so you can stick with it comfortably.
4. Begin Your IVA Journey
Once your IVA is approved, your repayments will start, and you’ll be on the road to debt freedom with our support every step of the way.
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frequently asked questions
How much does an IVA cost?
An IVA doesn’t require any upfront fees. The costs are included in your affordable monthly repayment plan, so you’ll never pay more than you agree to. Our fees are approved by creditors and are only charged once your IVA is set up and running.
Is getting an IVA serious?
Yes, entering an IVA is a serious decision because it’s a legally binding agreement with your creditors. However, it can also be a positive step towards becoming debt free. An IVA gives you protection from creditor action and allows you to make manageable monthly repayments.
Is an IVA legally binding?
Yes, an IVA is a legally binding debt solution. Once approved, all included creditors must stick to the terms of the IVA and can’t chase you for additional payments. If you maintain your agreed monthly repayments, you’ll be protected, and your remaining debt can be written off at the end of the arrangement.
Can I go on holiday with an IVA?
Yes, you can go on holiday while in an IVA, but your spending must remain reasonable and within your agreed budget. The IVA is designed to give you financial stability, so if you continue to make your monthly repayments, occasional affordable holidays are allowed.
Can I regain my credit rating after an IVA?
Yes. Your credit rating will be affected during the IVA, but once it is complete, you can begin rebuilding your credit profile. This includes paying bills on time, registering on the electoral roll, and managing credit responsibly. Many people find that an IVA gives them a fresh start and the opportunity to improve their credit score over time.
How likely am I to be accepted for an IVA?
Acceptance depends on your individual circumstances, such as your level of debt, income, and ability to make regular payments. Generally, if you owe more than £6,000 to two or more creditors and have a stable income, you may qualify. Our advisors can quickly assess your situation and let you know your chances of approval.
Can I get an IVA if I have a mortgage?
Yes, you may still qualify for an IVA if you have a mortgage. Your mortgage payments will remain a priority, and the IVA will cover your unsecured debts such as credit cards, loans, and overdrafts. In some cases, you may be asked to release equity from your property towards the end of your IVA, but this will always be explained clearly before you begin.
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Take Back Control of Your Debt
Taking back control of your finances doesn’t have to feel overwhelming. At Care About Money, we make the process simple and supportive, keeping you informed at every stage, so you know exactly what to expect.
We will call you to discuss your circumstances.
We help you decide on your best course of action.
We will help guide you through the process.
Care About Money Limited
Registered Office: The Granary 50 Barton Road, Worsley, Manchester, England, M28 2EB. Registered in England and Wales Registration number 13444035. ICO registration number ZB723901.
Care about money Ltd FRN 962287 is an appointed representative of Promethean Finance Limited FRN 662425.
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.
Care About Money does not directly provide debt solutions, it will provide advice and refer you to one of it’s trusted debt solution providers should you choose a solution that suits your requirements. We will receive a fee if you enter into an agreement with one of our partners. Adele Cardoso is licenced as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association.
All work undertaken by Arkle Insolvency Limited and Adele Cardoso (IP number 30710) is subject to the Insolvency Code of Ethics. Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails any debts remaining will not be written off. Failure of your IVA could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected.
Registered Office: The Granary 50 Barton Road, Worsley, Manchester, England, M28 2EB. Registered in England and Wales Registration number 13444035. ICO registration number ZB723901.
Care about money Ltd FRN 962287 is an appointed representative of Promethean Finance Limited FRN 662425.
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.
Care About Money does not directly provide debt solutions, it will provide advice and refer you to one of it’s trusted debt solution providers should you choose a solution that suits your requirements. We will receive a fee if you enter into an agreement with one of our partners. Adele Cardoso is licenced as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association.
All work undertaken by Arkle Insolvency Limited and Adele Cardoso (IP number 30710) is subject to the Insolvency Code of Ethics. Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails any debts remaining will not be written off. Failure of your IVA could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected.