An IVA is an individual voluntary agreement and you can enter into this process if you have over £15,000 in debt across more than one provider. At Kensington Finance what we do is try to make the sometimes harsh experience a bit easier on you. By freezing the interest rates on your debts and taking control of the communication between you and your creditors, we aim to make you debt free in a stress free manner.

The idea behind an IVA is that you pay off what you can in one monthly, manageable payment over a fixed period which is usually 5 years. You will qualify as long as you have a monthly income of at least £200 and by the end of the period, any outstanding debt will be written off. Although this should be viewed as a healthy alternative to bankruptcy, if you don’t keep up with your monthly payments you could face going bankrupt.

To find out more about this financial solution that we offer, call us today or take our free online debt test to see what service best suits your situation.