IVAs (Individual Voluntary Arrangements)

If you’re considering an IVA we provide expert advice on your IVA options.

An individual or sole traders can propose an Individual Voluntary Arrangement (IVA), which is a scheme to creditors for repayment of all or part of their debts over a period of time as a means of avoiding bankruptcy.

Creditors have an opportunity to review an individual’s proposals and vote either against or for the proposals (with or without modifications) at a meeting of the individual’s creditors. A majority of over 75% in value of those creditors voting at the meeting must support the IVA for it to be binding on all creditors.

The advantages of an IVA are:

  • Creditors will receive a more favourable return with an IVA than in a bankruptcy scenario
  • Individuals will avoid the stigma, restrictions and consequences of bankruptcy with an IVA as well as maintaining control of their estate
  • Interest on debts will cease to be applied on approval of an IVA
  • In certain circumstances, creditors will write off a proportion of their debt

Once complete, it will leave the individual debt free

We can advise individuals or sole trader, whether an IVA should be considered in the circumstances; assist in producing a viable proposal to put before creditors; facilitate negotiations and, if accepted, act as Supervisor of the IVA to ensure that it is carried out as envisaged.

If you require any further information or assistance, please contact us.

Working with you

We will work with you to explore your situation in detail and provide clear, jargon-free, honest advice. Rest assured, anything discussed with us remains confidential.

All initial consultations are free of charge and without obligation.

When you need help

Call Ruth on 01622 764 612
Call Filippa on 020 7253 7171

Customer Pledge

Always treat you with understanding and empathy
Ensure that matters are finalised and brought to closure
Find solutions to resolve your debt issues
Provide honest straight forward advice
Communicate these clearly and keep you updated regularly
Ensure our fees remain competitive and fair
Treat everything you share with us in confidence
View Customer Pledge

Testimonials

"Ruth and her team helped me through a difficult time in a caring and supportive way. I know I can always go to Ruth for advice and guidance which will be given impartially and fairly for all parties concerned. This is very much an open, clear and professional relationship which I appreciate."

Mr B IVA

"The most important thing about Ruth's approach is she is professional, not pompous. She is sympathetic to clients who have problems, listening and finding solutions..."

Mr M. Referring Accountant

"Dear Filippa, thank you for delivering an impassioned speech on the issues that frustrate you and your fellow practitioners. We feel sure the points you raised were noted by those who mattered and we are especially grateful for your commitment."

Peter Sargent & David White R3 (Association of Business Recovery Professionals)

"I found Ruth and her team to be patient and approachable as they were always at the other end of the phone to answer any questions that we may have thereby providing us with comforting assurances as much as possible. They were also frank and candid in telling us where they did not have an answer."

Mr L Company Director

"I would like to re-iterate my thanks to Ruth and her staff for putting my finances back on track, so efficiently and effectively. As a now retired person, I hesitate to imagine my financial outlook had you not successfully orchestrated my IVA."

Mr S

"Filippa's words of wisdom started me on a path of recovery and I will be forever indebted to her for her understanding and compassionate approach."

CEO from Devon

"The liquidator is Filippa Connor, and from discussing the issues involved, I have found her to be thoroughly professional and alert to our concerns about the behaviour of [the company in liquidation]."

Mr R Hulls, Independent Surveyors Association

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