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Individual Voluntary Arrangements

An IVA enables an individual with debt problems to make a proposal to a reach settlement with their creditors, in most cases significantly reducing / writing off debt.

Complete our calculator to assess whether an IVA could work for you (normally a minimum contribution of £200 per month is required).


Why Might An IVA Suit Me? In an IVA, an individual with debt problems will reach an agreement with their creditors to make a single, affordable  payment each month (based on the individuals finances).  This lasts for an agreed period, usually 5 years. Once agreement has been reached, no further interest or charges will accrue to debts. At the end of the arrangement, any shortfall to creditors is legally written off.

An IVA is suitable when someone is unable to pay off their debts but does not want to file for bankruptcy. It can be an attractive option to all parties including the creditors as often it presents for them a better result than under bankruptcy.

Provided the agreed payments to the IVA are maintained, at the end of the arrangement period, the remainder of your debt is written off.
You must have at least £12,000 of unsecured personal debt to apply, although most of our IVA clients have debts in excess of this amount.
If your total debt is less than this, we would recommend you speaking to the Citizen’s Advice Bureau or the Consumer Credit Counselling Service.
IVAs are becoming an increasingly popular choice for people with debt problems in the UK.

T H Financial Recovery are specialists in advising, setting up and supervising IVAs.

Benefits of Individual Voluntary Arrangements

  1. A proportion of your debt can be written off with an IVA as your repayments are based on what you can realistically afford.
  2. Your creditors or their agents cannot harass you whilst the IVA is in force.
  3. If you comply with all terms of the IVA, on completion you are debt free and your creditors cannot pursue you for any unpaid amounts.

There are two businesses located at the Leyland site, TH Financial Recovery and a separate group company, Debt Rescue Management Limited, specialising in consumer IVAs.  Both are headed up by Licensed Insolvency Practitioners and can provide personal insolvency and debt advice. Do not hesitate to call  01772 641146 or call Jonathan on Tel: 07989 719060 out of hours. Alternatively,  please complete the online enquiry form .