Individual Voluntary Arrangements (IVA)

What's an IVA? It's a legally binding agreement between a debtor and their creditors. If you’re in debt, it’s an opportunity to reorganise your financial affairs to everyone’s satisfaction – and get some relief from the stress, too.

Get an IVA and interest on debts is frozen. You can then make a proposal to your creditors about repaying some or all of your debts over a set time. The good thing about IVAs is that they’re individually tailored. Work with Frost Debt Solutions, and your proposal will not only maximise creditors’ returns but also be achievable for you.

We’re licensed Insolvency Practitioners, so can accept appointments as Nominees and Supervisors of IVAs.

If you want to propose an IVA, you must fully disclose all your assets and liabilities to your Nominee (Insolvency Practitioner). The proposal should ensure that creditors get a higher return than if you became bankrupt. It’s confidential between you and your creditors, but if it fails, the court could make you bankrupt.

You can enter into an IVA even if you’ve already been made bankrupt. If you’re self-employed and your business is viable, you can continue to trade.

Want to find out more at no cost? Call Frost Debt Solutions for a no-charge review of your financial affairs. If we feel that an IVA is right for you, we’ll get right on to your creditors.

Attachments: R3 Guide – Is a Voluntary Arrangement Right for Me?