Once you have decided that an IVA (Individual Voluntary Agreement) is right for you, the first stage is for an Insolvency Practitioner to draft a proposal with your help and on your behalf.
The IVA proposal will outline the details of your debt, your assets and your ideas for dealing with your circumstances.
The proposal is then lodged with the court and, if necessary, an interim order will be issued which will halt or prevent any legal action against you.
Debt Consolidation Explained contains general information only. We strongly advise you to seek qualified professional advice before taking any action.