IVA - Individual Voluntary Arrangement
You need at least £15,000 debt to qualify for an IVA. An IVA is a legally binding arrangement between you and your creditors which allows you to cut your debts to an affordable level. This saves you from bankruptcy and allows the creditors to get more money back then they probably would have if you had been made bankrupt.
With an IVA you make one single monthly payment for the agreed period (normally 5 years), after that the remaining debt is written off leaving you completely debt free!
Right For You?
If you feel that an IVA is the right choice for you then you need to speak to a couple of specialist companies. Remember it is important to speak to more than one company so you can get the best deal. Below is a couple of debt solution companies that provide IVAs.
 Debt Advice Online specialise in debt management and IVAs, the company has helped thousands of clients reduce their debts over the years.
 SolveMyDebt offer immediate debt solutions for people in the UK. They employ only experienced debt advisers to make sure that you get the perfect IVA to suit your situation.
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