IVAs with Blair Endersby

Blair Endersby was set up in 2005 to provide Individual Voluntary Arrangements (IVAs) to clients whose debts are making them struggle significantly. IVAs form part of government legislation (Insolvency Act 1986) to provide an alternative to bankruptcy for people in severe difficulty with their unsecured debts. An IVA must be overseen by a qualified Insolvency Practitioner, and Blair Endersby is one of the few companies to offer the complete service – from our trained advisers as the first point of contact to our in-house Insolvency Practitioners, who are licensed by the Association of Chartered Certified Accountants (ACCA).

IVAs wipe out debt problems in 60 months

If your client has more than £15,000 worth of debt, an IVA is one solution to get rid of debt problems. An IVA is a legal agreement which works as an alternative to bankruptcy. The client pays an agreed sum each month and can be debt free in five years.

How does an IVA provide debt help?

An IVA is a formal and legally binding agreement between the client and their creditors. It provides both parties with certain legal protections whilst the client solves their debt problems.

With this form of debt help, the client pays the agreed monthly amount, usually over 60 months, informing our IPs (Insolvency Practitioners) of any change of circumstance which could affect their income or assets.

Once the agreement is in place the client's creditors must stop all further interest and charges on their debts. All letters and phone calls from the client's creditors in relation to their debts should then cease. Once the 60 months have ended, and the client has kept to the arrangement any outstanding debt is written off.

What are the minimum criteria for an IVA?

As an IVA is a formal legal arrangement there are several specific criteria needed to qualify. These will be subject to your client’s personal circumstances and creditors’ agreement – we will of course conduct a through appraisal of each client’s circumstances. To make matters simpler we usually ask introducers that clients fulfill the following:

  • Three or more creditors
  • Struggling with payments
  • More than £15,000 of unsecured debt
  • Proof of employment
  • UK citizen (IVA specific for England and Wales)

IVAs are available to residents of England, Wales and Northern Ireland. If your clients live in Scotland, however, they may qualify for a Protected Trust Deed.