An IVA can work well for some people, but it is not a default answer to debt.
It is usually more suitable when:
- you owe multiple unsecured creditors
- you have regular income
- you need a formal agreement that stops further creditor pressure
- you are likely to maintain payments for several years
It may be less suitable when:
- your spare income is very low
- your income is unstable
- you may qualify for a Debt Relief Order
- you could repay your debts through a Debt Management Plan
Good Next Steps#
- Read What is an IVA?
- Compare IVA Pros and Cons
- Use the broader Debt Help guide
- If you still think it fits, use the IVA Calculator