What Is an IVA?

An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and your creditors that allows you to repay a portion of your debts over a fixed period — usually five years. At the end of this term, any remaining debt is written off. In 2025, more people than ever are searching for “IVA help UK” and “how to write off debt legally” as living costs and financial pressures increase.

Unlike informal plans, an IVA is legally protected — once approved, creditors cannot chase you, send bailiffs, or add interest to your debts. It’s a structured path out of debt, tailored to what you can afford.

How Does an IVA Work?

Once you’re assessed by a qualified insolvency practitioner, a proposal is created based on your income, essential spending, and total debts. This proposal is shared with your creditors. If 75% (by value) agree, the IVA becomes legally binding on all creditors — even those who voted against it.

You then make one affordable monthly payment. These are usually far lower than your current repayments and are based on what you can realistically afford. Interest and charges are frozen, and legal action is halted.

With terms like “reduce monthly debt payments” and “IVA 2025” trending across Google, it’s clear that many people are turning to IVAs for relief.

What Debts Can an IVA Cover?

• Credit cards and personal loans
• Overdrafts and store cards
• Council tax arrears
• Utility bills and payday loans
• HMRC debts, including tax and overpayments
• Benefit overpayments
• Catalogues and buy-now-pay-later schemes

IVAs are not suitable for secured debts or student loans, but they can combine most unsecured debts into one affordable monthly plan.

Key IVA Benefits

• ✅ Write off up to 85% of unaffordable debt
• ✅ Stop interest, charges and legal action
• ✅ Block bailiff visits and creditor calls
• ✅ Combine debts into one lower monthly payment
• ✅ Keep your home and vehicle (in most cases)
• ✅ Debt written off after 5 years (sometimes sooner)

Search trends for “how to stop bailiffs legally” and “get rid of debt 2025” prove that IVAs are becoming one of the most trusted routes to debt freedom in the UK.

Who Is Eligible for an IVA?

• You owe over £6,000 in unsecured debts
• You have two or more creditors
• You have a regular source of income
• You live in England, Wales, or Northern Ireland

Even if you’re self-employed, on Universal Credit, or recently unemployed, you might still qualify. Searches for “IVA on benefits” and “can I get an IVA if I’m unemployed” are also increasing — and solutions do exist.

IVA vs DMP vs Bankruptcy

Here’s how an IVA compares to other popular debt options:

• IVA: Legal agreement, write off debt, fixed term, protection from creditors
• DMP: Informal, no guaranteed write-off, creditors can still contact you
• Bankruptcy: Severe consequences (loss of home/assets), quicker resolution, court-based

More people are choosing IVAs to “avoid bankruptcy” and get a “fresh start with debt 2025”.

IVA Myths & Facts

❌ Myth: IVAs are only for people with massive debts

✅ Fact: If you owe just over £6,000, you may still qualify.

❌ Myth: You’ll lose your home or car

✅ Fact: Most IVAs let you keep your home and vehicle, especially if they’re essential to work or family life.

❌ Myth: It ruins your credit forever

✅ Fact: Yes, it impacts your credit short-term — but it also stops further damage and clears your debt in 5 years or less.

Ready to Get Started?

You don’t have to face debt alone. We help people daily to access IVA support quickly, with zero judgment and complete confidentiality. Whether you’re being contacted by bailiffs, struggling to pay bills, or want to explore if you qualify — we’re here to guide you.

Searches like “IVA help near me” and “free IVA debt support UK” are growing — and you’ve found it here at Fresh Start.