• IVA Advice

An IVA can help you resolve personal debts and help get your life back on track

Do you have unsecured debts with a number of creditors you are unable to pay? If so, then there is an alternative to Bankruptcy, which allows you to renegotiate the terms of your repayments to creditors into an affordable and manageable sum. An IVA (Individual Voluntary Arrangement) can be used to help manage the debt, and lower your repayments to creditors, meaning you are able to pay off your debts while having enough money to live off each month.

Why should you have an IVA?

The IVA Proposal sets out the amount to be repaid and the duration of the arrangement which is usually 60 months, but can be much shorter if the offer is based on a full and final settlement. The IVA proposals need to be drawn up and presented for you by a licensed Insolvency Practitioner. This is because an IVA is a legally binding contract and is governed by insolvency legislation.

IVAs are designed to clear your debts, whilst lowering your repayments to creditors or allowing you to offer lump sums from the realisation of assets of third party funding. The advantage of this process means that you are able to balance the desire to repay your creditors whilst having sufficient money to live off each month, thus avoiding the commonly seen patter of “robbing Peter to pay Paul”.

Whilst you may not eventually repay your creditors in full – most people actually do not – your creditors will agree to write off often substantial sums providing you keep to your share of the bargain. This brings peace of mind in the knowledge that your debts are under control and that the arrangement is being supervised on behalf of you and your creditors by a suitably qualified and highly regulated professional.

An IVA is an affordable way out of debt

Our insolvency practitioners at PJG Recovery are experienced in dealing with IVAs. Speak to us about an IVA if you want to:

  • Be debt free in a realistic period (usually 60 months)
  • Have one affordable monthly payment
  • Freeze the interest on your debts
  • Stop creditors taking legal action against you
  • Avoid losing your home
  • End the stress that your debts are causing

If you don’t take control of your debts your debts will take control of you. We can help you towards a debt free future, so take advantage of our free, confidential and insolvency advice and call us now on (NI & ROI) 02891 814890 (UK Mainland) 02920 346530 or enquire online.

The insolvency experts at PJG Recovery deal with all kinds of personal and business debt, so we have the expertise needed to provide you with the best advice.

Failure to adhere to the terms and conditions of your IVA may put your assets and home at risk.  If your IVA fails your creditors can take further action against you and you may be at risk of Bankruptcy.

Why should you have an IVA?

An IVA is a valid option for any person who is struggling to pay their unsecured debts. The IVA makes paying off your debts a simple, affordable process. We will negotiate with creditors on your behalf and agree on either a monthly payment or, if you can afford it or have access to, a one-off lump sum. The other advantages of dealing with your debts with an IVA include:

  • An IVA is a contract for repayment between you and your creditors
  • It avoids the stigma of bankruptcy
  • It stops creditors taking legal action against you
  • It freezes the interest payable on your debts
  • You can negotiate that a proportion of your debts be written off
  • It provides you with a set monthly payment for a set timescale
  • It can lead to the process of eventual credit repair

For more information you can contact us about IVA's online or call us on (NI & ROI) 02891 814890 (UK Mainland) 02920 346530.

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Alternative Debt Solutions


An IVA allows you to renegotiate the terms of your arrangements with your creditors. If you have unsecured debts with a number of creditors that you are unable to pay this is an alternative to formal bankruptcy. An IVA (Individual Voluntary Arrangement) allows you to manage your debts with a solution that will give your creditors money over a period of time, which is normally 60 months.

Learn more about IVA's »

Debt Management Plans

A debt management plan (DMP) represents a viable alternative to an Individual Voluntary Arrangement for those people struggling to cope with rising levels of debt. A DMP allows individuals to restructure debt repayments into a informal payment plan.

Learn more about Debt Management Plans »


Declaring bankruptcy may be a last resort, and you do need to make sure that you have fully considered the process from all angles – the advantages, the disadvantages and the implications. Our experienced personal insolvency team at PJG Recovery can talk to you about all of the solutions available to you, including Debt Relief Orders, Individual Voluntary Arrangements and informal Debt Management.

Learn more about Bankruptcy »

Trust Deeds

If you live in Scotland and are struggling to repay your debts you may want to consider entering into a Trust Deed with your creditors. A Trust Deed is an alternative to bankruptcy and is a formal agreement between you and your creditors, where you agree to pay an affordable payment each month for a fixed period - usually 3 years - in exchange for your creditors agreeing to write off the balance outstanding at the end of the 3 years.

Learn more about Trust Deeds »

Our Fees

Our advice is always free and we only charge when we start acting on your behalf. Our fees are proportionate to the activity we perform. Fees for IVA's, Bankruptcy and other services do differ, so please review our fee structure so you are aware of how debt assistance works.

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Learn about PJG Recovery

We have been operating since 2002 and we are a team of professional insolvency practitioners who are passionate about helping you manage issues with your debts. Being in debt is a scary and worrying time for many people. More and more people are getting into debt through no fault of their own and this is where the team at PJG Recovery can really offer you advice and help to become debt free in the best way possible. We are here to help you "recover" from debt and are always happy to talk to you for free on how we can help.

Learn more about us and how we can help »

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