IVA help. Write off up to 80% of debts with an IVA
An IVA could write off unaffordable debt and put your life back on track. Bennett Jones specialises in IVAs
✓ Write off unaffordable debt*
✓ One monthly repayment
✓ Only pay what you can afford
An IVA may not be suitable in all circumstances. Fees apply. Entering into an IVA will affect your credit rating. You could write off up to 80% of your debts upon successful completion of an IVA.(10% of our customers wrote off 80% in the last 12 months, with a typical figure of 25%-75%).
Check if you are eligible for an IVA
Bennett Jones is here to help you regain control of your finances. We’ve helped thousands of customers become debt-free by using an IVA. Complete the form above to get no-obligation debt help from our trusted partner, The Debt Advisor Ltd.
Our relationship with The Debt Advisor
The Debt Advisor and Bennett Jones have common Shareholders. The Debt Advisor Ltd is authorised and regulated by the Financial Conduct Authority to provide debt counselling and debt adjusting services to people who are experiencing financial difficulties. The Debt Advisor Ltd will advise you regarding all of the solutions which are available to help you. There is no charge for initial advice relating to the debt solutions available to you and is without obligation. Depending upon the solution that you choose, fees may apply.
Bennett Jones has many years of experience helping people write off debt with an IVA. We could help you write off your loans, credit cards, catalogues, payday loans and many other debts.
We can help stop creditors harassing you over non-payments of personal, business, or tax debts. We’ve helped write off the debts of thousands of our customers, you can read about their stories and 5* reviews on Trustpilot.
Check if you qualify for an IVA by completing the form above. Our trusted partner, The Debt Advisor Ltd will then contact you to do an assessment. A UK-based team is ready to help you every step of the way. You could write off up to 80% of your debt.
We are proud of our 5* Trustpilot reviews
November 2024, Carenza
I cannot thank Bennett Jones enough. I had a lot of debt and couldn’t see a way out. It was beginning to impact on my mental health....... I finished the process today and it was approved, and I honestly feel so much relief that I cried down the phone because I am so thankful. Words will never be enough to say how grateful and thankful I am but one thing I know for sure is that I can start my life again without worrying about money and the debt. Thank you so much for everything!
October 2024, Tony
Truly a breakthrough a company of people that actually care and understand your concerns of being in financial difficulties very understanding caring and acknowledging your feelings Craig who called me was very helpful and clear in all aspects of the situation and completely put me at ease from the start to finish highly recommend to any one who’s in financial difficulties
September 2024, Glen
I found Bennet Jones 5 years ago was really struggling financially. They helped me set up my IVA and the process from start to finish has been amazing. The support I have been given over the last 5 years goes above and beyond what I expected. Would highly recommended If your struggling with debt please don't bury your head in the sand it's an easy process for manageable payments every month and know more hiding behind the sofa. Thanks to everyone at Bennett Jones.
Bennett Jones - for IVA help
Breathe easier with our debt help today
Our team at Bennett Jones has many years of experience in dealing with creditors and helping clients deal with debt. We are here to provide support and guidance for you at a time when you need it most. If you would like to learn more about an IVA.
- Complete the form above
Bennett Jones has helped thousands of people solve their debt problems with an IVA. If you are eligible, we can help stop creditor pressure and help you write off debts you cannot afford.
Read more below about the solutions to problem debt
Our team members have the knowledge, experience and professional qualifications to ensure you receive the guidance and support you need to navigate your journey to financial recovery. We comply with all statutory, regulatory and best practice obligations. Don't just take our word for it, read some of our excellent customer reviews and case studies.
An IVA may not be suitable for everyone who needs help with their debts. Fees apply. Writing off debt with an IVA will affect your credit rating (see our FAQ). You could write off up to 80% of your debts (10% of our customers wrote off 80% in the last 12 months, with a typical figure ranging from 25%-75%).
An IVA is a fixed-term debt plan that legally protects you from creditors. If you are a homeowner, once your IVA is approved your home is protected. If you have a private pension, this will also be protected. An IVA will typically last for 5 years with you making one affordable monthly payment. Once the final IVA payment is made, you are no longer be liable for any of the debts included in your IVA and there will be no further balance to pay, even if your debts have not been repaid in full. A UK based team is ready to help you every step of the way.
An IVA is established and overseen by a Licensed Insolvency Practitioner, who acts as the mediator between you and your creditors. The exact amount of your monthly payment will depend on your circumstances but can start from as low as £100. If you are a homeowner, once your IVA is approved your home is protected. If you have a private pension this will also be protected.
It is realistic to expect to write off between 25% and 75% of your debts in an IVA. The debt write off amount will depend on your circumstances and is subject to your creditors approving your proposal. Your monthly IVA payments may be different to the example as they will be based on your personal circumstances. All fees and costs of your IVA are paid through your monthly IVA payments will be clearly explained to you.
Our insolvency practitioner (who supervises your IVA) will deal with all your creditors. Once the final IVA payment is made, you are no longer liable for any of the debts included in your IVA and there will be no further balance to pay, even if this means your debts have not been repaid in full.
To be eligible for an IVA, you need to show that you do not have enough money to pay your debts in a reasonable amount of time. In most cases, your debts must be more than your assets, including any property you own. You also need to have some surplus income each month after paying for your living costs.
To qualify for an IVA, you need to be a resident of England, Wales or Northern Ireland. You will also need to have a minimum debt level of £7,000. You must owe money to at least 2 companies. You will need to have some surplus income after paying your living expenses so that you can afford to make payments into your IVA.
All IVAs must be arranged through a licenced insolvency practitioner and that is where Bennett Jones steps in. If you qualify for an IVA, you could be on your way to writing off your seemingly unaffordable debts, setting you up for a debt-free future.
IVA is short for Individual Voluntary Arrangement and DMP is short for Debt Management Plan. IVAs allow you to write off a large proportion of your debt and they are legally binding on your creditors. A DMP is not legally binding – it is simply an informal agreement between you and some or all of your creditors. This means that if you are in a DMP your creditors can still take legal action against you and continue to contact you directly.
In England and Wales, an Individual Voluntary Arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy. In Scotland, the equivalent debt solution is known as a Protected Trust Deed.
Once an IVA is agreed upon, creditors are forbidden from contacting you directly to attempt to obtain funds. Whilst they usually receive a larger payment than they would with bankruptcy, you benefit from frozen interest/fees and manageable payment structures. What is more, with an IVA, you only pay what you can afford, even if this means you do not pay your debts in full.