Types of IVA

There are various types of IVA available depending on the individual’s circumstances. IVA Northern Ireland will be able to advise you on what the correct IVA is for your circumstances. Below is the 5 main types of IVAs we provide. Click on a link to read more about each type of IVA.

Single IVAs

A Single IVA is where the debts are in just in your name. Click here for more...

Joint IVAs / Interlocking IVAs

A Joint IVA is where all or some of the debts are in joint names. Click here for more...

Lump Sum IVAs

A Lump Sum IVA is where a Lump Sum Payment is offered to your creditors. A lump Sum IVA can last for just 12 months. Click here for more...

Assisted IVAs

An Assisted IVA is where the debts are in just one name but a Partner or Spouse helps with repayment of the debt. This type of debt is usually used for very large debts and the creditors may not accept it. Click here for more...

Self Employed IVA / Business IVA / Sole Trader IVA

A Self Employed / Business IVA is where the person applying for an IVA has both business and personal debts. Click here for more...

IVA Northern Ireland has several other Debt Solutions available that might suit you better, like Debt Management Plans and Debt Consoldidation. Click here for more info on our other Debt Solutions.

In the UK, consumer credit activities are covered by the Institute of Chartered Accountants in Scotland, Group Licence number G/900011
Complaints Procedure | Insolvency Service Debt Guide | Fees

ivanorthernireland.co.uk is owned by McCambridge Duffy, who provide free debt advice on a variety of debt solutions. A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any service or debt repayment plan. In the IVA our fees are included in your monthly payment to your creditors so you will not have to pay anymore than you can afford. More suitable debt solutions may be offered which may result in different fees applying and we will discuss those with you during your initial consultation. Read further information. Creditors may still contact you with promotional material or to fulfil contractual obligations to you but they should deal with us in all aspects relating to the outstanding debts.

Acceptance of your IVA cannot be guaranteed but we will do our best. You must meet certain criteria which will be discussed with our advisors. Where we put a client forward for an IVA we believe they have an excellent chance of being accepted. Debts will only be written off where a client has made an agreed payment for a fixed period. In return the creditors agree to write off the remaining balance. Typically, our clients average debt write off is between 60-70% of the debt. What debt you have written off will depend on your individual circumstances and is subject to creditor approval and completion of the IVA. Your credit rating may be impacted for up to six years from the commencement of you IVA. Homeowners may be required to introduce equity if available.

Phonecalls: Calls from a landline are normally free. Please consult your provider if you are unsure. Calls from a mobile may be subject to charges. If you get charged just ask us to call you back for free.