Call free for debt management, debt help & advice

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, which could, once agreed, freeze interest charges and set a tailored monthly payment amount over an agreed fixed period, usually 5 years.

The benefits of an IVA are

  • One monthly payment - usually for five years
  • We'll deal with your creditors on your behalf
  • Creditors are legally bound by the terms of the agreement
  • Your home will be protected
  • Real alternative to declaring yourself bankrupt

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.

Find out if you qualify for an IVA

Take our simple debt test and we'll give you an instant recommendation on the best way of tackling your debts.

Tell us your situation

Tell us about you

Your privacy is important to us. All correspondence is held in strict confidence and we only request information required to find the best debt solution for you.

Key facts:

About our service and fees:

Depending on your circumstances, our debt advisers may advise you to enter a specific debt solution - and if you choose to, there will be fees involved. At Gregory Pennington, we are committed to providing the highest possible levels of customer service, and to ensuring that our fees are competitive. Click here to read more about our fees.

What if I change my mind?

Remember, you are not obliged to enter a solution. If you do, and you change your mind, you have a right to cancel your agreement with us at any time during the first 14 days of its term.

How will it affect my credit rating?

Whilst on an IVA and for a year after completing it your credit rating will be affected.

Get expert, confidential debt advice todayIf you would like more information, our experts are standing by ready to help 0800 161 3516

Speak to an expert today
Call: 0800 161 3516

Gregory Pennington can offer you a range of debt solutions, all specially tailored to suit your individual needs & circumstances. These include:

Debt News Stories

Negative equity `could last for four more years` - 01/09/2010
Tens of thousands of homeowners who bought their home during the `housing boom` could be in negative equity for another ...
Debt rises in July - 01/09/2010
In July, British consumers took on more debt than they repaid, according to the Bank of England. ...
Cost of student debt to rise - 27/08/2010
The Student Loans Company (SLC) has confirmed that interest rates on student loans will increase - meaning millions of people ...

© 2009 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061
Registered in England and Wales