IVA Debt Management: A Smarter Way to Step Away from Debt

Debt can feel overwhelming, but you're not alone, and there’s a practical solution that can help. If you're struggling to manage your debts and looking for a way to regain control of your finances, an Individual Voluntary Arrangement (IVA) might be the right step forward. At Step Away Debt, we’re here to guide you through every stage of the IVA process with care and clarity.

What Is an IVA?

An IVA is a formal, legally binding agreement between you and your creditors to pay back your debts over a set period, typically five to six years. It's designed to make repayments more affordable by consolidating your unsecured debts into one manageable monthly payment, based on what you can reasonably afford.

Once the IVA is complete, any remaining unsecured debt included in the agreement is written off.

How Does IVA Debt Management Work?

1. Free Consultation: We begin with a no-obligation chat to understand your financial situation.

2. Debt Assessment: We help evaluate your income, expenses, and debts to determine if an IVA is suitable.

3. Proposal Creation: If you qualify, we draft a proposal outlining the repayment plan.

4. Creditor Approval: The proposal is sent to your creditors. It’s approved if 75% (by debt value) agree.

5. Affordable Payments: You make one fixed monthly payment based on your affordability.

6. Debt Written Off: At the end of the term, any remaining included debt is legally written off.

   
   

Benefits of an IVA

✅ One monthly payment – Manageable and based on what you can afford 

✅ No more creditor contact – We handle communication with creditors 

✅ Frozen interest and charges – Creditors stop adding extra fees

✅ Debt write-off – Any remaining debt is cleared after the IVA ends 

✅ Legal protection – Creditors can't take legal action during your IVA

Is an IVA Right for You?

An IVA may be suitable if:

• You owe more than £6,000 in unsecured debt

• You have debts to two or more creditors

• You can afford to make regular monthly payments

• You're a resident of England, Wales, or Northern Ireland

If you meet these criteria, an IVA can provide a path to financial stability and peace of mind.

Why Choose Step Away Debt?

At Step Away Debt, we believe that everyone deserves a fresh financial start. Our friendly and experienced advisors provide confidential, expert support tailored to your needs. We simplify the process, ensure transparency, and guide you every step of the way.

Take the First Step Toward Financial Freedom

If you're feeling trapped by debt, now is the time to take action. An IVA could be the solution you need to step away from debt and reclaim your future.

Get in touch today for your free IVA consultation and find out how we can help you take control of your finances.