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.
In Debt?
Dealing with your creditors
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.
Debts cut by 61% - saving £600 a month with an IVA
Bankruptcy avoided, 75% debt write-off, but after a struggle
Sign up now to receive Free News and Debt advice by Email
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.
Brits ‘more concerned’ with debt than other Europeans
(Mon, 23 Nov 2009)
British citizens are more worried about their levels of debt than any other country in Europe, excluding Spain, with many stating their borrowing is not relative to their income. This is according to a new survey by fund manager Janus Capital, which indicated that 35 per cent of Britons feel their debts are too high compared ... more >>
Which?: Banks may face more complaints
(Mon, 23 Nov 2009)
British banks may soon be faced with many more complaints from debtors who have been subject to bank charges since July 2001, after research from Which? revealed that 63 per cent still have not made claims to recoup their money. Personal finance campaigner with the consumer watchdog Phil Jones noted that banks could be “staring down ... more >>
Fee free account to help debtors?
(Mon, 23 Nov 2009)
Santander’s decision to introduce a fee free current account has been described as a “very significant” development in the banking sector as it may drive other financial institutions to offer better deals to customers. Head of consumer finance at lovemoney.com Ed Bowsher observed that Santander is now able to implement competitive products as its balance sheet ... more >>
Citizens Advice: Financial Services Bill will help debtors
(Fri, 20 Nov 2009)
The Citizens Advice Bureau has voiced its support for the Financial Services Bill, with director of public policy at the body Teresa Perchard saying that it is an “important step forward” in supporting the public in such difficult times. She went on to note that enabling organisations to bring actions on behalf of people will mean ... more >>
Debtors targeted by phone scams, expert says
(Fri, 20 Nov 2009)
Those already experiencing debt management difficulties have been advised to be wary of telephone scams that are being particularly targeted towards those who owe money. External affairs director of Equifax Neil Munroe noted that vulnerable people are convinced to part with account details and upfront payments by criminals who offer lump sums in return. “Anyone who provides ... 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: