• business Government Legislation could reduce your debts by up to 80% *

Write Off Up To 80% Of Your Debts With Government IVA Scheme.

Complete the form to see what debt help is available

  • bar_chart
  • people
  • input
  • face
  • phone_iphone
  • Helping People In Debt Since 2007

  • lock Private & Confidential

  • chat_bubble_outline UK Advisors

  • thumb_up No Upfront Fees

  • arrow_downward Lower Your Payments

Use Government IVA Scheme to write off up to 80%* of your debts.

Individual Voluntary Arrangements (IVA’s) were introduced by the Government in the 1986 Insolvency Act as an alternative to bankruptcy. They were put in place to help anyone in serious debt finding it difficult to make their monthly payments. If you live in Scotland the equivalent solution is a Trust Deed

An IVA is a formal agreement with your creditors (the people you owe money to) where you agree to pay only what you can realistically afford, taking into account your living expenses and monthly income. This is paid as a single monthly payment, usually over a period of sixty months. At the end of the period any remaining debt is written off and you owe nothing.

On average, clients have had 25% and 85% * of their debt written off with an IVA!

Provided you maintain your repayments as agreed, an IVA protects you from further legal action from your creditors. In addition to this, all interest and charges are frozen at the time the IVA is agreed.

It is very important that you understand your legal rights and responsibilities if you are in debt. Expert debt information can make an enormous difference to the outcome of any debt problems you are currently facing.

Are there any disadvantages to an IVA?

Although the advantages of an IVA are significant, undertaking an IVA is a serious matter. As such, there are some things that you must bear in mind when thinking about an IVA:

  • thumb_downCredit Rating Effected

  • The IVA will be recorded on your credit file. This means that you will not be able to take further unsecured borrowing for the period of the IVA. Once the IVA is completed (normally after 5 years), you can borrow again. However, it may take some time for your credit rating to repair.

  • thumb_downHome Equity Must be Released

  • If you are a home owner, during the course of the IVA you may have to release available equity from your property to increase the overall settlement offer to your creditors. If you do have to remortgage to release equity you may then find the rates available to you become higher. If you are unable to contribute the equity from your home your IVA could be extended by a further 12 months.

  • thumb_downName included in Insolvency Register

  • Whilst your name is not published in the newspaper, it should be pointed out that the IVA will be entered onto the government insolvency register, which is a searchable public database.

  • thumb_downFailure may result in bankruptcy

  • If you fail to adhere to the terms of the IVA, bankruptcy proceedings may be taken against you. As such, your home and other assets may be at risk.

  • thumb_downOnly Unsecured Debts can be written off

  • Debt write off applies to unsecured debts and those not included will remain outstanding.*

  • thumb_downExpenditure Restrictions

  • There are also restrictions on what expenditure is usually permitted when you are on an IVA. For example creditors will not usually allow extravagant or luxury purchases. However these are considered on a case by case basis.

  • thumb_downCreditor Acceptance

  • An IVA propsal is presented to your creditors, this must be accepted by 75% of the creditors (by debt value).

The following is an example of how an IVA could help you.

Example Debts

  • Credit Card: £8,000
  • Store Card: £3,000
  • Bank Overdrafts: £1,000
  • Personal Loans: £8,000
  • Payday Loans: £4,000
  • Council Tax: £1,000
  • Furniture Credit: £1,000
  • Total Owed: £26,000

Your Monthly Payments

Before IVA
(total contractual repayments)
arrow arrow arrow arrow
With IVA
(total contractual repayments)
Recuced by

To learn more about IVA's and check if you qualify, chat with a IVA specialist today.

What Debts Can You Write Off?

See if you qualify for an IVA and receive these benefits

  • check_circle Write off up to 80%* of your debt

  • check_circle No contact with your creditors again

  • check_circle One monthly payment for all your debts

  • check_circle Instantly freeze interest & late payments

  • check_circle Government backed scheme

  • check_circle Keep assets like your home & your car

Check If You Qualify Today


Real customers. Real reviews


Thank you so so much for what you have done for me. The pressure is lifted because of you, can't thank you enough.



I want to say a big thank you to all the team. You people are so fantastic, i couldn't believe it. You guys gave me my life back. I'm so happy right now, feeling so fresh and so emotional. Thanks for all the support and friendly process, thank you again.



It isn't an easy process and everyone he has spoken to has been wonderful. Thankyou for guiding him through the process.



Really easy to talk to and answered all my questions, and i had a lot. Helped me take back control of my finances.




Opening Hours

Opening hours: Mon - Fri 8am - 7pm

Helping people in debt since 2007

Free debt counselling, debt adjusting and credit information services are also available from the Money Advice Service.

Debtcentres.co.uk is a trading style of Libra Marketing Solutions Limited. Company No: 661572 ICO DPN: ZA079092

*An IVA (Individual Voluntary Arrangement) is subject to acceptance. Debt write off applies to unsecured debts and on completion of an IVA. In some IVA’s up to 80% of the debt can be written off. The amount written off will depend on your circumstances, income, assets and the current write-off policy of your creditors. Levels between 25% and 80% are realistic, depending on your ability to repay.

At Debtcentres.co.uk we do not give advice. On completion of our form, we will introduce you to Hanover Insolvency Limited (Hanover). We use the contact details you have given us on the form to make this introduction. We may receive a commission for this introduction.

Hanover do not administer or provide advice solely relating to debt management products, such as Debt Management Plans or Debt Payment Plans under the Debt Arrangement Scheme. They only provide advice after completing or receiving an initial fact-find where the individual(s) concerned meets the criteria for one of their insolvency solutions, therefore all advice is given in reasonable contemplation of an appointment.

Subject to income and expenditure calculations and personal circumstance.

By using this site, you agree we can set and use cookies. For more details of these cookies and how to disable them, see our cookie policy.

Copyrights © 2018 Libra Marketing Solutions Ltd. All rights reserved.