An IVA is our most popular debt solution and is an agreement between you and your creditors. Allowing you to write off up to 83.8%* of your unsecured debts, you can consolidate many of these while making payments starting from just £100 per month.
See if I qualify* Based on FSS customers who had an IVA approved in December 2021, the top 50% expect to write off on average 80.1% of their unsecured debt upon successful completion.
Alternative Debt Solutions
Whilst we specialise in IVAs and can't assist you in setting up alternatives, we can assess your financial situation to see which solution best meets your needs. If one of the below debt solutions is more suitable, we can refer your application to a firm that could help.
Debt Management Plans
A Debt Management Plan (DMP) helps you to repay your non-priority debts by making affordable repayments while ensuring you can still afford your living costs.
Bankruptcy
If you can't repay your debts, bankruptcy can be a fresh start. However, there are several things to consider before deciding if bankruptcy is right for you.
Debt Relief Order
A Debt Relief Order (DRO) can be considered if your financial situation won't improve for at least a year. Learn more about how this compares to an IVA.
Administration Order
You may be able to get an administration order if you have a county court or high court judgement against you and you cannot afford to pay the debt.
Some solutions available to Scottish Citizens
Trust Deeds
A Trust Deed is only available in Scotland. Find out more about the trust deed's similarities with an IVA, such as writing off unsecured debt on completion.
Debt Arrangement Scheme
Learn more about debt arrangement schemes introduced by the Scottish government to help people repay their debts affordably by paying regular monthly amounts.