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.
Bankruptcy avoided, 75% debt write-off, but after a struggle
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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.
Debt helplines ‘in demand’
(Mon, 08 Feb 2010)
Debt helplines in Britain are likely to be fairly active at the beginning of 2010, according to one industry practitioner. Ian Boden-Smyth of the UK Insolvency Helpline made this comment following a statement from the National Audit Office revealing that, at the end of November 2009, personal borrowing constituted 160 per cent of household annual pre-tax ... more >>
Government to protect homeowners more?
(Mon, 08 Feb 2010)
Homeowners who have been unable to make repayments on credit debts may soon be offered greater protection in the courts, as the government has issued a consultation paper regarding this matter. Justice minister Bridget Prentice noted it is essential to recognise the fact that the number of people in debt to creditors will rise because of ... more >>
Credit crunch ‘taught valuable lessons’
(Fri, 05 Feb 2010)
The British public appears to have taken a few financial lessons to heart following the recent economic crisis, which has been described as “a huge shock” for the country. Head of consumer finance at lovemoney.com Ed Bowsher made this observation, saying that people are keen not to make similar errors regarding their money as those seen ... more >>
Energy customers ’should shop around’
(Fri, 05 Feb 2010)
Britons could experience greater savings by shopping around for energy providers, it has been suggested, a move which may prevent any potential debt problems from arising. Head of utilities for comparison website Gocompare.com Mark Greening noted that the assumption that one tariff will suit all customers is incorrect, commenting on the recent reductions made by British ... more >>
Many debtors ‘going it alone’
(Fri, 05 Feb 2010)
Almost a million people in the UK are dealing with their debt difficulties on their own, without asking for professional help. This is according to statistics from R3, which revealed that 916,000 Britons are struggling in this manner, while a further 574,000 have been in informal contact with creditors for assistance. Commenting on the fact that government ... 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: