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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.

Get free IVA help

The benefits of an IVA are

  • The unpaid balance of your debt is written off
  • 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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©2008 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061
Registered in England and Wales

Subject to eligibility and acceptance, debt write-off applies on completion of an Individual Voluntary Agreement, alternative solutions may be offered. Fees payable. Your ability to obtain credit will be affected. Homeowners may be required to remortgage during the term. Calls may be recorded.

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