
How you will benefit:
- One single consolidated payment to your unsecured debts.
- An affordable monthly payments based on what you can afford.
- Frozen interest and charges.
- Full protection from your creditors they cannot chase you for their debt.
- A fixed agreement usually lasting 5 years, after which any remaining unsecured debts could be debt free.
- Protection from legal action by creditors.
- Protect your assets from creditors, such as your car or home.

Things to consider:
- If you don’t stick to your agreed terms your creditors could take action against you and interest may resume on your debts. If the arrangement fails you could be at risk of bankruptcy.
- There are restrictions to your expenditure we have to adhere to and if you have assets then you may be asked to make these available to your IVA e.g. savings plans.
- If you are a homeowner you may be asked to remortgage your property in the 5th year of your IVA, to release any equity to creditors. If a remortgage is not available an IVA can be extended for 12 months.
- An IVA will appear on your credit file for up to 6 years. During this time it may be difficult for you to obtain credit and you may be subject to higher rates of interest.
- Creditors do not have to approve the IVA.
- Any unsecured debts that were not included would remain outstanding.
- An IVA will be recorded and entered on to a public register.
It’s important to us that all customers make a fully informed decisions regarding their finances. If you have any questions please do not hesitate in calling us on 0800 088 2315 or 01525 201102.