An IVA (sometimes mistakenly referred to as an Individual Voluntary Agreement) or
An IVA is likely to be your best route to becoming
An IVA (Individual Voluntary Arrangement) - a legally binding agreement with your creditors that will be overseen and supervised by licensed insolvency practitioners who are also chartered accountants.
IVA should be more prominent in your mind if you owe more than £7,500. A ClearDebt IVA will cut the total you owe, freeze the interest you pay and can remove any threat to the home you own. Your creditors will be legally bound, they will never chase you and you'll have one fixed and affordable monthly payment to make. We do not charge you for our advice and assistance. Once your IVA is approved we take our Nominees and Supervisors fees as approved by your creditors, out of your agreed monthly contribution.
If you owe less than £7,500 and are in employment, then other, less formal ways than an IVA for dealing with your debt might be better, for example
Our site is full of debt help / IVA resources to help you understand your situation, cut your household costs and plan a route out of debt. If you owe more than you think you can repay, or you are worried about becoming bankrupt, a ClearDebt IVA could lower your total debts, ensure you pay no more interest and help you become debt-free in five years or less. To see how much less you could be repaying every month, while avoiding bankruptcy, take the free two minute ClearDebt Analyser now. If you feel you are ready to apply for an IVA right now, here is our more detailed questionnaire.
If an IVA is the right option for you, ClearDebt offers more than just information. ClearDebt can help you set up an IVA, a legally binding agreement which provides greater security and, usually, much better terms than can usually be achieved with a debt management plan.
Going bankrupt is a big decision. It means you can walk away from all your debts, but you'll lose your house in most cases - and possibly other assets too. It can make getting back on the property ladder problematic - but it is not always the wrong decision. Take a look at our more detailed information on
The IVA Council has settled its High Court dispute with ClearDebt Limited by providing an apology to the company and agreeing, along with associated companies and individuals, to pay £250,000 in damages and costs. more»
View Letter Of Apology (pdf).
View Order Of The Court (pdf).
View Freezing Interim Judgement (pdf).
The 1st Debt Worry Index shows struggling debtors owe on average £24,708 - a third of them will never afford to repay all they owe: families are about £7,500 worse off than childless debtors. See Full Report & Interactive Google Map.
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Free downloadable guide (pdf format).

The ClearDebt Analyser is a unique free tool which shows you your best way out of debt - whether an IVA, debt management, debt consolidation or bankruptcy. Immediate results on screen help you say goodbye to debt worries for good!
The Debt Management Comparison tool compares the likely impact of an IVA or a debt management plan on your debt and your pocket. Once you have input your real figures youll get an instant comparison for free. You might be surprised by the result!
Easy to use Debt Repayment Calculator illustrates how you can clear your debt and become debt free.
Our debt calculator illustrates the effect of a change in APR on your debts over time.
Become debt free
ClearDebt helps people beat debt and become debt free. Read about our recent cases below where we have helped clear debt.
Taking responsibility - credit card debt dropped by more than 40%
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If you have debts of over £14,000, then an
IVA could be right for you!
If you have debts of less than £14,000,
then a DMP could be right for you!
Find out which debt solution is the best option for you!
It's quick and easy, just let us know your situation and
we'll do the hard bit.
Two-thirds ‘fear their pensions will be insufficient’
(Tue, 09 Mar 2010)
Around two-thirds of people are concerned their pension will be insufficient to fund their retirement, meaning they could fall into debt, research has suggested. Figures collated by the National Association of Pension Funds show that only 34 per cent of people believe they will be able to cope financially once they stop working. The study found that ... more >>
Women ‘are not contributing to their pensions’
(Mon, 08 Mar 2010)
Women could be running the risk of debt in retirement by not contributing to their personal pensions, an industry expert has warned. Laura Goodman, director of corporate communications at Rockingham Retirement, said that there is a distinct gender gap when it comes to saving for life after work. She noted that pension scheme advertising is generally geared ... more >>
The government ‘has to cut credit card rates to ease debt’
(Mon, 08 Mar 2010)
Credit card rates need to be slashed by the government to help people struggling with debt and to aid the revival of the economy, an industry expert has suggested. Peter Gerrard, from Moneyextra.com, said that blame for high credit debt statistics should not be diverted from the Bank of England, rather the government should be listening ... more >>
Men experiencing higher levels of bankruptcy and IVAs, research suggests
(Mon, 08 Mar 2010)
There are higher levels of bankruptcy and Individual Voluntary Arrangements (IVA) for men than there are for women, figures show. Statistics released by the Consumer Credit Counselling Service (CCCS) indicate that of its IVA recommendations last year, 55.4 per cent were for males and of the people to which it advised bankruptcy, 51.4 per cent were ... more >>
Don’t rely on state benefits when ill, mothers are told
(Fri, 05 Mar 2010)
Women could be risking debt if their only plan to survive if they become ill is to rely on state benefits, a life insurance specialist has warned. LifeSearch, speaking before the upcoming Mothers Day celebration, has suggested most women have underestimated the amount of money they will receive from the state if they are unable to ... more >>
IVA Advice: What exactly is an IVA?
IVA Advice: How long will the IVA last?
IVA Advice: Can creditors change their minds if the IVA has been agreed?
IVA Advice: How much will the IVA monthly payments be?
IVA Advice: When is the best time to do an IVA?
IVA Advice: I am self-employed. Can I do an IVA and continue trading?
Tired of debt jargon? Search our glossary of debt terms: