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Home » IVA’s » Types of IVA Proposal

Types of IVA Proposal

IVA is short for Individual Voluntary Arrangement by the very nature of its name a Proposal of repayment to debts you cant afford to repay and is completely unique to each individual or joint applicants circumstances.

As well as individual IVA’s it is also possible to apply for a joint IVA called interlocking Arrangements that allows to two people with shared financial interests to put forward a repayment offer to both of their debts.

For more information on Joint or Interlocking IVA’s click here>

To help give you an idea of the different ways an IVA can help individual situations, we have outlined 2 main types of IVA Proposals suitable for both Individual and Joint arrangements.



standard term

This is the most common of IVA proposals and suitable for people who have a sustainable repayment from their income each month to offer creditors. These are usually proposed over a period of usually 60 months and set out an affordable monthly payment to your debt, which is agreed with you using recognised guidelines for essential living expenses as well as accounting for all of your household bills before any offer of payment is reached.

It is possible to proposal cases under 60 months if you forsee a significant change in circumstances within the next 5 years, that would make you unable to maintain a payment to creditors.  (For example: you are due to retire from work and anticipate a significant reduction in your income as you lose your salary and receive state pension). These proposals are more unusual and reviewed on a case by case basis.

For more information and examples of Standard Term Proposals Click Here>



one off settlement

These proposals are suitable for people that have very little to offer creditors from their income after all essential living costs are accounted for and would find it difficult therefore, to maintain monthly payments for any length of time but have a lump sum to offer their creditors from savings, sale of an asset or even a gift from a relative or friend. The amount that would be acceptable to creditors is dependent on your individual circumstances and would need to be considered on a case by case basis. But essentially, if it is the best you can offer and results in a fair return to creditors compared with alternatives it is likely to be accepted.

For more information and examples of One off Settlement Proposals Click Here>





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What do our Customers say?

" I really don’t know what I would have done without the IVA. I was recommended by my brother’s friend back in 2008 who was in a similar situation. Definitely the right thing for me to do. I am now building up my credit status so I can hopefully obtain a mortgage in the future. I am more careful with money / finances now and don’t take credit for granted! Thanks very much for everything the team has done for me!"

Mrs Purser,

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Important Information

Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.

Debt Support Centre Ltd provides insolvency solutions to individuals, specialising in IVA's. We do not administer or provide advice solely relating to debt management products, such as Debt Management Plans. Advice and information on alternative options will be provided following an initial fact find were the individual(s) concerned meets the criteria for an IVA and wishes to pursue it further, as governed by our regulators The Insolvency Practitioners Association. All advice given on any alternative options is therefore provided in reasonable contemplation of an insolvency appointment.

The Money Advice Service is a free service set up by the Government to help people make the most of their money. If you would like to learn more click here.