How it works
Complete our 30 second online assessment
Our quick, free online assessment asks the essential questions to determine if you qualify for an IVA. Start by clicking the yellow button below. Please ensure to give details as accurate as possible.
Speak to one of our expert IVA advisors
We're proud of our friendly team and the service they provide. We know you're going through a hard time and we're to help with any support or advice that you might need. We work with maximum levels of discretion for your protection.
Choose the best plan for your circumstances
An IVA may or may not be the best option for you. Our team will give you a balanced view on the options available to you, so that you can make the right decision for your future.
Here's what our customers have to say
Your questions answered
- Why trust Bankruptcy Bureau?
- What is bankruptcy?
- What is an IVA?
- Is an IVA right for you
- What are the alternatives to an IVA?
Why trust Bankruptcy Bureau?
We’re experts in debt management who specialise in bankruptcy and IVA cases. Our expertise and understanding of financial situations means that we’re able to provide you with all the possible solutions, swiftly and efficiently.
Further to our level of experience, we pride ourselves on having top levels of customer service. We understand that being in debt can be as stressful as anything else we have to go through in life, so our aim is to ease that stress as much as we possibly can. Our customers tell us that’s what makes us different.
At the end of the day, if we can provide you with the best solution to your debt problem whilst easing your levels of stress then everybody is a lot happier and that’s why people recommend us.Free IVA assessment
What is bankruptcy?
Bankruptcy is a legal status and form of insolvency whereby all or most of a person’s debts are written off. Its an option for people who are in severe financial difficulties and may be suitable if they don’t have the present or future means to pay of those debts in a reasonable amount of time.
Being bankrupt isn’t a permanent status, it usually lasts about a year, but it can affect your ability to obtain credit for a lot longer that, so shouldn’t be taken lightly, but it could be the right option for many as a way to clear debts and make a fresh start.Free IVA assessment
What is an IVA?
An individual voluntary agreement or IVA is a form of insolvency but it is different to bankruptcy. An IVA is a legally binding agreement between you and your creditors to help you pay off debts at a rate that you can afford. If you have an IVA and stick to the agreement you’ll get protection whereby your creditors cannot take further action against you and some of your debt may even be written off.
If an IVA is best for you then you will work out a repayment plan with the insolvency practitioner. The plan is put to the creditors and if they agree you will pay back a set amount each month, usually for five years. Your repayments will be paid directly to the insolvency practitioner who will then distribute the money to your creditors.
Free IVA assessment
Is an IVA right for you
An IVA isn’t right for everyone is it doesn’t cover certain levels or types of debts. We’d need more details from you to confirm, so please complete our online assessment.
An IVA is flexible to suit your needs and requirements, but it can be expensive and there are risks to consider, such as protection of your home, savings or pension. It could affect your job and if your circumstances change and you can’t keep up with payments, then you could be made bankrupt.Free IVA assessment
What are the alternatives to an IVA?
Choosing the right option for you is a big decision. There are a number of alternative options to making arrangements with your creditors, such as:
- Bankrupcty – a legal status and form of insolvency whereby all or most of a person’s debts are written off.
- Administration orders – an order is made for you to make monthly payments to your local court. The court then divides those payments between creditors
- Debt Relief Orders – a formal insolvency process for people with no assets, low income and no prospect of being able to clear their debts.
If you’d like to discuss these options in more detail, then please speak to one of our friendly advisors.Free IVA assessment