Do you qualify? Your debt needs to be at least £15,000 and you need to provide proof that you are in a position to make minimum repayments of at least £200/month.
You will need to find an insolvency practitioner, your local Citizen's Advice Bureau is probably a good place to start, both for good initial advice and to help you find a practitioner.
If your debt(s) are with more than one creditor, 75% must agree to the arrangement terms. The process can take from 4-6 weeks but may take longer in complicated cases.
Remember IVA are legally binding and you will be making payments for 5 years, they are a long-term commitment.















