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IVA Plan

IVA plans come in all different shapes and sizes. If you are familiar with an IVA as a means of sorting out your severe debt problems then you need to know about all the different IVA plan options which are available to you.

An IVA is a debt plan approved by the government through legislation which allows you to consolidate your debts over a fixed period of time and usually get some of the debt written off at the end of the agreement.

The different types of IVA plan can be summed up as –

Standard IVA Plan – a fixed term agreement, usually lasting 5 years involving you making 60 payments from your income and then the debt being completely written off at the end of the IVA contract.

Equity Release IVA Plan – an IVA plan for homeowners which may involve you releasing some equity from e.g. property or a pension pot to complete the IVA in under the five year period..

Full and Final IVA Plan – an agreement where you may not have any surplus income to pay into a standard IVA plan over 5 years but can offer a single lump sum either yourself or via a third party to satisfy the debts straightaway.

Trader IVA Plan – specifically for those who are self employed and wish to continue to carry on trading but without overwhelming debts dragging the business down. This type of IVA plan will include any arrears of tax and VAT and trade creditors as well as the more normal credit cards, loans and overdrafts.

Scottish IVA Plan – In Scotland the IVA is known as a Protected Trust Deed and has its own specific rules and regulations. If you are based in Scotland then you can take advantage of this legislation to get your debts written off even quicker than under the Standard IVA Plan – in some cases 4 years rather than 5.

Whichever type of IVA plan you are considering you must deal with a firm of insolvency practitioners rather than just an IVA introducer. There are only a limited number of IVA practitioners such as us across the UK. We offer completely free and impartial advice to ensure that the right IVA plan is completely tailored to your individual circumstances.

We are one of the leading IVA specialists in the UK and deal directly with many 1000`s of IVAs each year. Our practitioners are specifically authorised by the government to set up and supervise these arrangements. Simply complete the enquiry form or call us on 0800 043 50 43 to see if you qualify for an IVA plan.

Is an IVA right for you

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Total unsecured debt : £4000


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The IVA Advice site is owned by Guardian Insolvency Ltd. Guardian Insolvency Ltd is registered in England and Wales No. 07906134 whose registered address is Coppull Business Centre, Mill Lane, Coppull, Chorley, Lancashire, PR7 5BW. Data Protection Number: ZA093360