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Start the process of becoming debt free, today.

  • Lower your monthly payments
  • Freeze all interests and charges
  • Up to 90% of your debt written off
  • An IVA (Individual Voluntary Arrangement) is a way to write off up to 90% of your debt with simple, affordable payments.

Check if you're eligible today!

At Debt Free Today, we understand that every situation is different and so do our specially trained and FCA Approved panel of debt advisors. They are waiting to talk to you and help you start your journey of becoming debt free, today.

Here's a breakdown of Megan's story, who was recommended an IVA by a specialist debt advisor within our FCA Approved Panel.

Find out now if an IVA is right for you and freeze all charges & interest.

Check if you're eligible for an IVA today and write off up to 90% of your debt

Megan's Solution

Total Unsecured debt:


Old Monthly Payment:


Percentage of Debt Written-Off:


Amount of Debt Written-Off:


Remaining Amount of Debt for IVA:


New Monthly Debt Repayments:


Monthly Reduction:


Length of IVA (Term):

5 years

Figures based on an actual customer who was recommended an IVA, by a FCA regulated member of our panel of specialist debt advisors. Alternative solutions may be offered. Lenders are not obliged to accept less than contractual payments. Always speak to your selected specialist debt advisor about all of your options and they will help you work out what will be best for your individual circumstances.

Find out now if an IVA is right for you

For more help and advice, visit the Money Advice Service, an independent service set up to help people manage their money.

Or find out more about the different options for paying off your debt here. IVAs are only available in England, Wales and Northern Ireland.

What is an IVA?


An IVA is an Individual Voluntary Arrangement and its one way in which people can get regain control of their finances by getting on top of their unsecured debt repayments.

It's a formal agreement between you and your creditors which allows you to clear your debts whilst paying what you can over a period of 5 or 6 years. Importantly with an IVA, the amount you pay monthly is based on what you can afford, not what your creditors are demanding.

By entering into an IVA your interest and charges are frozen and there is no need to sell your home if you don't want to.

It also puts a stop to your creditors contacting you demanding monies beyond what you agree to in your IVA and at the end of the IVA period, any remaining debt included in the IVA is written off along with the interest and charges.

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How does an IVA work?

You speak to an FCA regulated expert who helps work out what you can comfortably pay towards your debts each month, in light of your income and outgoings.

This is formalised within an IVA and once accepted by your creditors (those people you owe), your monthly contribution towards your debts is distributed to them for you.

At the end of the IVA term usually 5 or 6 years, any remaining debt is completely written off, leaving you to get on with your life debt-free.

Protect your home

Did you know that IVAs are available to both homeowners and tenants?

A key advantage of an IVA is that your new lower payment will leave you enough money for your other household bills & expense. When our panel of debt specialists workout how much you can afford to put towards your IVA, they'll factor in your rent or your mortgage payment, so you don't have to move or lose your home and will always have a roof above your head, for you and your family.

If you're a homeowner, you won't have to sell your house but you will be required to release any equity in your property to pay towards your debts, remortgaging whilst on an IVA is likely to be on less favourable terms. If you can't remortgage the IVA could be extended by up to 12 months.

Enquire today and protect your home

Everybody is different. Speak to our FCA Approved Panel of Debt Advisors today.

No two people or circumstances are exactly the same.

And our panel of FCA Approved Panel of Debt Advisors know this. They will listen to you and give you the best advice for your exact situation.

Needless to say, they work under the strictest confidentiality and wont pass your details on to anyone, without your consent.

Our panel of FCA Approved Panel of Debt Advisors are focused on helping you and will always provide you the highest level of personalised and professional support.

They want to help you make tomorrow better than today and get your life back on track. They are approachable and supportive and have seen it all before, so just let them help you. All they want is to help you start the process of becoming debt free today.

Speak to someone today and lower your monthly repayments.

Frequently asked questions

How does an IVA work?

Will an IVA affect my job?

Will lenders stop chasing me?

Will people know I'm on an IVA?

Will my home be affected?

What debts can go into an IVA?

How does an IVA work?

Our experienced advisors will look at your financial situation with you and work out, based on your monthly income, what you can realistically afford to pay towards an IVA.

A proposal will then be prepared for your lenders. This will include:

  • Details of your finances
  • The terms of the proposed IVA
  • Reasons why they should agree to your IVA

Your proposal will then go through the following process:

  • Your lenders will vote on whether to accept the proposal (in most cases they will)
  • Once accepted, the IVA will be legally binding for you and your creditors
  • You’ll start making your months payments for the agreed term
  • After your last payment, any outstanding debt, including interest and charges, will be written.

Please note, if your IVA fails, you would be at risk of bankruptcy.

Will an IVA affect my job?

For most people, an IVA will not affect their job.

Keep in mind though, that some employers can have rules against employing people in certain positions who are on an IVA, or have been in the past.

Your job can be affected:

  • if you're responsible for money, e.g. an accountant, or
  • if you advise people about their money e.g. a mortgage advisor.

Our advisors will be able to tell you if your job is likely to be impacted.

Will lenders stop chasing me?

Your lenders will have to stop contacting you and chasing you for payments if your IVA is accepted.

Your lenders won't be able to take any further legal action against you.

Will people know I'm on an IVA?

An IVA is a private agreement between you and your lender. You don't have to tell anyone that you're on an IVA, if you don't wish to.

Your details will be added to the Insolvency Register until three months after your IVA ends. This register is publicly available, however someone would have to search for your details to find them.

Will my home be affected?

You don't have to worry about your home. It will be safe on an IVA.

You might be asked to release equity by remortgaging in the last year. If you're unable to, your IVA could continue for up to another 12 months.

If you're a tenant, your new monthly payment will leave enough money to cover your rent.

What debts can go into an IVA?

You can pay off any of your unsecured debts with an IVA.

These include:

  • Personal loans
  • Credit and store cards
  • Catalogue debt
  • Council Tax arrears
  • Benefit arrears
  • Overdrafts

You can't pay off any secured debts, like your mortgage, through an IVA so you will need to continue to pay these.

Your monthly IVA payments will take these into account though, to make sure you have money available to pay them.

How we help you

We’ll review your situation, explain your options, and recommend the solution that’s right for you. And our advice is free. If you want to set up your debt solution, we’ll refer you to one of our trusted providers. If you decide to use their services, we’ll be paid for introducing you or for the preparatory work we do.

Find out now if an IVA is right for you


As a resident of Scotland you have alternatives to an Permission Media