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Individual Voluntary Arrangements (IVAs)

If you have a substantial amount of unsecured debt, usually around £15,000 or more, an Individual Voluntary Arrangement (IVA) could be your best solution.

It acts as a legally binding agreement between you and your creditors, effectively freezing interest charges and setting an affordable monthly payment amount over an agreed fixed period, usually 5 years.

The benefits of an IVA are

  • Write off the unsecured debt you can't afford to repay
  • One affordable monthly payment - usually for five years
  • Protects you from further action by your creditors
  • Creditors are legally bound by the terms of the agreement
  • Real alternative to declaring yourself bankrupt
  • No public notices: an IVA is between you and your creditors

Best of all, you'll know exactly where you stand, exactly what you have to pay each month - and for how long.

We are here to help whatever your circumstances: divorce, illness, losing a job or a business, starting a family or simply over-committing ourselves can all make our debts get out of control.

For more information on IVAs click here or call us for a free consultation.

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Call freephone: 0800 161 3516

Gregory Pennington can offer you a range of debt solutions, all specially tailored to suit your individual needs & circumstances. These include:
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Gregory Pennington are founder members of DEMSA (Debt Managers Standards Association).


DEMSA are the first trade body within the finance industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme (CCAS).


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