Take the
first steps to
financial freedom.

Professional debt solutions and expert guidance for a debt free future.

What is an IVA
and how can it help me?

An Individual Voluntary Arrangement (IVA) is a legally binding agreement between you and your creditors to repay your debts in a manageable way. It allows you to regain control of your finances and avoid bankruptcy.

IVAs consolidate your debts into a single monthly payment, making it easier to manage your finances. With interest and charges frozen you can regain control of your budget and make steady progress towards becoming debt-free.

We assist you throughout the entire IVA process, from the initial application to the setup of your arrangement.


Negotiating with
your creditors


Debt Assessment
and Advice


Dealing with
your creditors

Money Helper is a free and independent service that’s backed by the UK government. For impartial guidance on making financial decisions, click here to visit their website.

Avoid bankruptcy and take control of your finances.

An IVA offers a viable alternative to bankruptcy, allowing you to resolve your debts while protecting your assets. It provides a more flexible and sustainable solution, helping you get back on track with your finances.


One realistic and affordable payment over a set period of time.

After successful completion of your IVA unaffordable debt is written off.

Interest and charges will stop.

Protected Legally – After your IVA has been approved, no further action can be taken by creditors and all interest and charges are frozen.

The fees charged are taken from the affordable monthly payment you make over the agreed term of the IVA.

Support from our team who can help you through the journey.

Your expenditure will be reviewed at the start and annually to ensure your payment remains affordable.

There are restrictions on the expenditure of a person who enters into an IVA.


Creditors don’t have to agree to an IVA proposal so it’s not guaranteed.

It affects your credit file for six years.

Your information will be held on the public insolvency register.

There are costs involved with an IVA, which are outlined in our Fees and Key information section. However, costs are deducted from the contributions you make. These will be fully explained to you and detailed fully in your IVA proposal.

If you own a property/properties, you may be asked to release equity from the value to pay off debts. A remortgage may attract higher rates of interest or, if no remortgage is available, an IVA may be extended by 12 months.

If you earn additional income then a percentage of this may need to be paid into the IVA.

If your IVA fails, it may result in Bankruptcy.

Borrowing any amount over £500 can only be done with the express permission of the Insolvency Practitioner.

Only unsecured debts included within the individual voluntary arrangement may be discharged at the end of the period and unsecured debts not included remain outstanding.

Other debt solutions
may be suitable for you.

Debt management plans.

A debt management plan is an informal arrangement designed to help individuals struggling with debt regain control of their finances. It involves working with a reputable debt management company to create a personalised plan that fits your income and financial situation. The plan aims to make your debt repayments more affordable by negotiating with your creditors to reduce or freeze interest rates and charges. It consolidates your debts into a single monthly payment, which you can comfortably manage.

By adhering to the plan, you can gradually repay your debts over an extended period, providing you with a viable path towards becoming debt-free. A debt management plan is a responsible and regulated solution that allows you to address your debts in a sustainable and structured manner, while protecting your assets and avoiding more severe measures like bankruptcy.

Debt relief order.

A Debt Relief Order (DRO) is a formal insolvency solution designed to help individuals who are in significant debt and have limited means to repay it. It is a legally binding agreement that provides temporary relief from creditors and can lead to the discharge of qualifying debts after a specified period, usually 12 months.

A DRO is suitable for individuals with low income, minimal assets, and debts below a certain threshold. It allows you to freeze your debts and make no payments towards them during the DRO period. After the DRO is approved, your creditors are prohibited from taking further legal action or contacting you regarding the included debts.

It provides a fresh start by clearing eligible debts at the end of the DRO period, offering a more manageable path to financial recovery. A DRO is a regulated and responsible solution for individuals facing severe financial difficulties and can provide the necessary breathing space to rebuild their financial stability.

Administration order.

An Administration Order is a formal debt management solution supervised by the court. It consolidates multiple eligible debts into a single monthly payment, which is distributed among creditors. This solution is suitable for individuals with unmanageable debts who have at least one county court judgment (CCJ) and a regular income.

Once approved, the Administration Order provides legal protection against creditor actions and allows you to focus on repaying your debts through the court-approved plan. It typically lasts until all included debts are repaid, offering a fresh start towards financial stability. Seeking advice from a reputable debt management company or regulated debt advisor is crucial to determine if an Administration Order is the right solution for your circumstances.

Breathing space. (Debt Respite Scheme)

A Breathing Space or Debt Respite Scheme is a government initiative that offers temporary relief from creditor pressure to individuals facing debt. It provides a period where interest, charges, and enforcement actions are frozen, allowing individuals to seek debt advice and develop a sustainable repayment plan. The scheme aims to provide crucial protection and support, empowering individuals to regain control of their finances and work towards resolving their debt without constant creditor pressure.

During the scheme, individuals can engage with professional debt advisors to assess their financial situation and create a realistic plan for managing their debts. It is important to seek guidance from an approved debt advisor to access the scheme's benefits. The Breathing Space or Debt Respite Scheme offers a vital break from creditor actions, giving individuals the time and support needed to address their debts and strive for long-term financial stability.


Bankruptcy is a legal debt management solution available to individuals and businesses facing overwhelming financial difficulties. It is a formal process that involves declaring oneself or being declared insolvent by a court. Bankruptcy offers a fresh start by liquidating assets, if necessary, to repay creditors or by setting up a repayment plan based on the individual's financial situation. It provides relief from creditor actions and offers the opportunity to discharge eligible debts.

However, bankruptcy has long-term consequences, including potential impact on creditworthiness and certain restrictions on financial activities. It is a serious decision that should be carefully considered with the guidance of a licensed insolvency practitioner or legal professional.

Take the first step towards financial freedom, contact Aquarius (Insolvency) Limited today.

Ready to take control of your finances and start your journey towards financial freedom? Contact Aquarius (Insolvency) Limited today to schedule a consultation with our expert advisors.

Call today to check if you’re eligible.

Freephone: 0800 047 2525

*May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.

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