Privacy Policy

How does it work?

This privacy policy will apply to you if you provide your personal information to, even if you decide not to go ahead with any service we offer.

As a trading style of Creditfix Limited, the information you provide on this site will also be used within the company.

Within this privacy policy we have set out how these companies will use your personal data to provide their product or service to you.

An IVA is a form of insolvency that allows you to write off unsecured debt and is an alternative to bankruptcy.

You'll make a single monthly payment based on your affordability which is then divided between the people you owe money to. All interest and fees associated with any debts included within the IVA will be frozen and creditors can’t contact or take any further action against you.

At the end of the IVA term any remaining debts will be written off.

An Individual Voluntary Arrangement (IVA) is a formal debt solution that creates alegally binding agreement between you and the people you owe money to. You may decide to enter an IVA if you’re struggling to repay the total amount of unsecured debt you currently have but can repay some.

Yes, an IVA will have an impact on your credit rating as it will show on your credit report for six years after it has been approved. However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.

Once your IVA is complete you will be offered a fresh start to begin rebuilding your credit rating.

In most cases entering an IVA won’t affect employment. However, in certain professions, such as accountants and solicitors, having an IVA may mean that you can no longer practice or you may only be able to practice under certain conditions.

Once you enter an IVA, creditors can take no further action against you and can’tcontact you directly.

An IVA can be a positive way to manage unaffordable unsecured debt and allow you to better manage your monthly finances.

In an IVA a single monthly payment is agreed with your current financial situationtaken into consideration – this payment is then divided between the people you owe money to. During the course of your plan all interest and fees associated with your debts are frozen.

At the end of the IVA the remaining debts are written off and you can begin your debt-free future.

When you’re considering entering an IVA, it’s important to be aware of the following:

  • If you’re a homeowner you may need to release equity from your home in the final year of your IVA. If this isn’t possible then the length of your IVA may increase by a year.
  • Your credit rating will be affected.
  • Only the unsecured debts included in your IVA will be written off at the end of the agreement.
  • Your IVA will be recorded on a public register.

We offer debt advice tailored to your circumstances. We’ll find out more about your current financial situation, your lifestyle and advise if an IVA is the best debt solution for you.

There is no cost attached to initial advice, however, fees will apply should you decide to enter into an arrangement. These will be discussed by an expert advisor to make sure you are fully aware of the costs involved.