IVA advice is quickly becoming the most sort after debt advice in the UK. With an increasing amount of people finding themselves in a devastating cycle of debt, an IVA (Individual Voluntary Arrangement) is being seen as a secure option to getting out of debt.

IVA companies have come under fire in the media recently with numerous reports of misleading advertising, however this has not stopped them growing in popularity. The reports suggested that IVAs were being advertised to people with unrealistic aims as to what percentage of your debt an IVA could clear for you. Some adverts even went so far as to say that an IVA could clear up to 80% of your debt, which was quite simply misleading. Realistically, an IVA can clear a large percentage of your debt and help you control your finances.

While some creditors have agreed to their debtors clearing up to 70-75% of their debt, quite often the percentage you can wipe off is slightly lower than that, and an IVA company can’t guarantee how much your creditors will accept.

Not all IVA companies are out to mislead you. The company that reported the breech in advertising is called Debt Free Direct, one of the UKs largest providers of confidential and impartial debt advice and debt solutions.