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What is the process of seeting up an IVA? I'd like to fully understand this before committing to it.

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  • Setting up an IVA with ClearDebt can be broken down in to 5 basic steps:

    1. Your first port of call is to take our online Debt Analyser. This takes 2 minutes to complete and will provide you with a quick analysis to confirm if an IVA is the right choice for you.

    2.  Should it be indicated that an IVA would be suitable for you, you are then advised to complete our online IVA Application Form. Should you prefer, you can contact our team on FREEPHONE 08000 192 095 and we can help you on the telephone and/or send you a paper copy in the post.

    3. On receipt of your completed application form, we will assess the information provided and come back to you within 4 working days with our findings and advice about the most appropriate route forward.

    4. We will then go through your information again and prepare your IVA proposal.

    5. We will arrange a meeting or a telephone call with an Insolvency Practitioner or Insolvency Manager, and then also arrange a meeting between your IP and your creditors so they too can approve the proposal suggested.

    6. Once the proposal is approved, you will enter into your IVA officially and begin your monthly repayment process. We will assist you continually throughout your IVA and our team are always happy to provide advice and guidance.

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