How does an IVA work?
A full review of your financial circumstances will be completed. Should you believe an IVA is the most appropriate solution for you we will prepare an IVA proposal. We will present this to your creditors who can vote on whether to reject or accept the proposal.
You will need 75%, by value, of the creditors who vote to vote in favour of the proposal for it to be approved. Following the acceptance of the IVA we will manage contact with your creditors.
During the IVA period you may still receive annual statements from creditors. If the IVA proposal is rejected it may be possible to re-submit the proposal should your circumstances change. Alternatively we can assist you in considering alternative solutions.Continue to the next section How do I qualify for an IVA?