Worried about Debt? Get up to 74% written off
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
For free, independent advice, you should visit to Money Helper via their website.
Guiding You Towards a Stronger Financial Future
At Haven Debt Support, we offer understanding, respectful assistance to help you explore the right debt solution for your circumstances. We’re here to make the process clear, compassionate and judgement-free.
Write off your debt with an IVA
Let’s Chat
Let us know about your current debts — our friendly team is here to help you take the first step towards a solution.
Tailored Debt Solution
Based on your individual circumstances and financial situation, we’ll assess whether an IVA could be a suitable option for you.
Comprehensive Support
If you’re eligible for an IVA, we’ll handle the preparation and coordinate the process with a regulated Insolvency Practitioner on your behalf.
Explore Our Services
Individual Voluntary Arrangement (IVA)
A legally binding agreement between you and your creditors to repay part of your debt through affordable monthly payments, usually over 5–6 years. The remaining debt may be written off at the end. Available in England, Wales and Northern Ireland.
Debt Management
Plan (DMP)
An informal agreement to repay your debts at a more manageable pace through reduced monthly payments.
Trust Deed
A formal debt solution in Scotland where you agree to pay an affordable monthly amount towards your debts, usually over 4 years. Once completed, the remaining debt may be written off. It’s legally binding and protected from creditor action.
Debt Relief Order
(DRO)
A DRO is a low-cost debt solution for individuals with low income, minimal assets. Debts may be written off after 12 months if circumstances remain unchanged. Debt level restrictions apply.
Debt Arrangement Scheme (DAS)
A debt repayment programme available in Scotland that allows you to repay your debts over time through a single monthly payment. Interest and charges are frozen, and creditor action is paused.
Bankruptcy
A formal insolvency option where unaffordable debts are written off, and your assets may be used to repay creditors. Suitable if you have little to no disposable income or assets.
The benefits of being in an IVA with Haven Debt Support.
Choosing the right support makes all the difference. At Haven Debt Support, we don’t just help you apply for an IVA — we guide you with compassion, clarity, and confidentiality from start to finish.
We take the time to understand your personal situation, helping prepare your case correctly and refer you to a trusted, regulated Insolvency Practitioner who can advise on your best next steps.
One Affordable Monthly Payment
Your debts are combined into a single, manageable payment based on what you can realistically afford each month.
Legal Protection from Creditors
Once approved, an IVA protects you from further contact or legal action by creditors — no more threatening letters or calls.
Interest and Charges Frozen
All future interest and charges are frozen once your IVA begins, helping to prevent your debts from growing.
Debt Written Off at the End
At the end of the IVA term, usually after 5 years, any remaining qualifying debt may be legally written off.
Frequently Asked Questions
What is an IVA?
An Individual Voluntary Arrangement (IVA) is a formal, legally binding agreement between you and your creditors to repay your debts through affordable monthly payments over a set period — usually five years.
Once approved, the IVA protects you from further creditor contact or legal action. Interest and charges on your debts are frozen, and your monthly payment is based on what you can reasonably afford. If you are a homeowner, once your IVA is approved your home is protected.
At the end of the IVA term, any remaining unsecured debt included in the arrangement may be written off. Your IVA will be supervised by a licensed Insolvency Practitioner, who will manage all communication with your creditors on your behalf.
Once the final IVA payment is made, you will no longer be liable for any of the debts included in your IVA and there will be no further balance to pay, even if this means your debts have not been repaid in full.
Is an IVA suitable for me?
An individual voluntary arrangement (IVA) is a type of insolvency and a legally binding arrangement between you and your creditors. It may be a suitable solution if you can afford to pay something to your debts, but not the full amount your creditors want.
If you have a lump sum to pay towards your debts, you may also be able to qualify for an IVA.
An IVA should be carefully considered because of the possible consequences for your personal, professional, and financial life. There are several risks that you must consider before applying which is why you should get expert debt advice.
How long does it take to set up an IVA?
The typical time taken to set up an IVA is between 21 and 28 days. You will need to provide information to your insolvency provider. Your insolvency provider will also obtain information online to confirm values of items like your house or car. As you are making an important financial decision it is essential to make sure that you take the time you need to read and understand your IVA proposal and make sure this is the right decision for you.
At Haven Debt Support, we will take time to explain the options available to you and our team will be happy to answer any questions or concerns you may have before you make the decision to proceed with your IVA. Once you have reviewed and signed your proposal, a copy will be issued to your creditors. We must allow at least 14 days for your creditors to consider your proposal and provide their vote.
Will an IVA affect my credit rating?
Your IVA will be registered and will show on your credit file for six years from the date it is approved and for up to 12 months after your IVA has concluded. During this time, you’re likely to find it difficult to obtain credit. You must also inform your insolvency supervisor and get written permission if you want to take out more than £500 worth of credit during your IVA. Details of individual voluntary arrangements are listed on a public register called the Individual Insolvency Register. It’s unlikely that anyone would come across this information, but it’s something which is available to those who know where to look for it.
The effect of your IVA on your credit rating will also depend to some extent on what your credit rating was like before you commence your IVA.
Will entering an IVA affect my job?
This massively depends on who you work for and your role. When entering an IVA, some jobs could be affected, for example:
– Company directors
– Law and property roles
– Finance and accountancy roles
– Pub licensees
The best way to find out if an IVA would impact on your job is to check with your employment contract, professional membership body, trade union, or ask to speak confidentially to your HR department. It’s extremely important to check if your job will be affected, but in our experience most jobs are not.
Can I keep my current bank account?
As long as you don’t owe money to the company that you bank with then the answer is yes. However, if your bank is also one of your creditors, it is likely they would freeze your account once they know that you are proposing an IVA, so we would advise you to change your bank in those circumstances.
How much will an IVA cost?
IVA costs are charged for the preparation of your proposal and the administration of the arrangement for the full term (usually 5 years) these costs are charged from the monthly contributions you make into the IVA and are not in addition. Costs will only be recovered on approval of your arrangement and once you commence making payments to it.
The fees for preparation of the proposal to creditors and calling the meeting for creditors to vote on its approval are called nominees fees, the fees for running the arrangement once approved are called supervisors fees. There are also some expenses incurred in the running of the arrangement such as the registration fee and the statutory insurance that needs to be taken by law, these are called disbursements. For our arrangements, the total of all of these is £3,650 although this may be adjusted by creditors when they vote on whether to accept. No matter what the end total of costs come to, you can be rest assured that these will be taken from the monthly payment we agree with you.
Will my IVA be affected if I change my job?
You are free to change jobs at any time during your IVA. If your income increases when you change your job you may need to inform your IVA provider as this may affect the amount of your income contributions payable into your IVA. Your creditors will expect you to agree to increase your contributions by up to 50% of the increase in your net income but they will also allow you to deduct from this increased payment any additional living expenses or expenses associated with your new employment such as additional travel costs.
Can I get a mortgage when I’m in an IVA?
As a mortgage is a form of credit you will be expected to obtain the consent of your IVA provider to apply for a new mortgage. More notably, you are likely to find that there are only a few mortgage lenders that are willing to agree to provide you with a mortgage before your IVA is settled. If you find a mortgage lender who is happy to provide you with a mortgage, then your IVA provider is likely to agree to the mortgage proceeding provided that your income and expenditure budget still allows you sufficient money to be able to continue paying your agreed IVA contributions.
Can I change cars during my IVA?
During your IVA there is no reason why you should not be able to change your car. Your creditors understand that for many people it is important for them to have the use of a reliable car so that they can commute to work and continue to earn the income from which the IVA contributions are going to be paid.
One limitation to consider when changing your car is the amount of new finance you are allowed to obtain for the purposes of acquiring a new car. Before you obtain additional credit you are expected to obtain the consent of your IVA provider as they will want to make sure the additional credit you are taking on is affordable for you.
Can I finish my IVA early?
If you find there has been a change in your circumstances this may mean it is in everyone’s interests to look at varying the terms of your IVA so that your IVA finishes earlier than was originally expected. If a friend or relative, is aware of your financial troubles and has offered to provide financial help to clear your debts then you maybe in a position to offer a single lump sum payment to be paid into your IVA in place of continuing to pay income contributions for the remainder of the 60 months originally agreed. Your creditors may favour this because they will receive payment earlier than if they had to wait for the full 60 months term of your IVA to receive all their payments.
Our experts will be happy to discuss with you any proposals you may wish to make to vary your IVA so that it concludes early.
What happens after my IVA finishes?
When your IVA finishes you will receive a report from your IVA provider confirming your IVA has been successfully concluded. Your IVA provider will update the Insolvency Register which has a record of your IVA so that it shows your IVA has been successfully concluded. Your creditors will also receive the final report from your IVA provider. The report will explain how much has been repaid to your creditors after the costs of your IVA have been paid.
Wondering how to take control of your debt?
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