An Individual Voluntary Arrangement (IVA) is a formal agreement with your creditors to pay back what you can realistically afford over a period of time (usually five years). If you stick to the terms of your IVA and make the agreed regular payments, once your IVA has completed any outstanding debts will be written-off and you will be debt free.
Do You Have £5,000 Or More Of Debt?
Take back control of your debts
Write-off unaffordable unsecured debt
Reduce your monthly repayments
Stop creditor pressure & harassment
What Is An IVA?
Advantages of an IVA
Disadvantages of an IVA
Example IVA
Example debts before an IVA
| Credit Cards | £5,000 |
| Payday Loans | £1,500 |
| Council Tax | £3,000 |
| Utility Arrears | £2,000 |
| Bank Loans | £4,000 |
| Overdraft | £1,000 |
| Debt Collector | £2,450 |
| Total | £18,950 |
The IVA example is for illustration purposes only. Monthly payments are based on individual circumstances.
Before an IVA
Monthly Payments
£632
Debt written-off
0%
Total Debt Repayable
18950
After IVA approved
Monthly Payments
£79
Debt witten-off
75%
Total Debt Repayable
4738
Debts included in an IVA
Council Tax Arrears
Water Arrears
Unsecured Bank Loans
Student Loans
Store Cards
Rent & Mortgage Arrears
Phone Arrears
Payday Loans
Court fines
Catalogue Debts
Benefit Overpayments
Overdrafts
HMRC Tax Bills (self employed)
Gas & Electric Arrears
Credit Cards
Why Choose M1 Bailiff Solutions?
Our Aim
To help you understand the options available to you and help you on your road to debt recovery.
Experienced Team
We have many years experience helping our customers improve their circumstances and deal with their debts.
Experts On
Bailiff enforcement action; Council Tax arrears; court fines; parking fines; gas, electric and water arrears; debt consolidation; and all debt solutions.