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Step Number Arrange a consultation
Step Number Financial freedom


Call MPH Recovery now to find out how an IVA can help you become debt free.

An IVA is essentially a contract between an individual and his or her creditors to repay a proportion of their debts over a period of time. It is often an attractive alternative to bankruptcy. The individual may raise funds by disposing of some assets, arrange for a third party to provide funds and/or make voluntary contributions for the benefit of the creditors from his income. An Insolvency Practitioner acts as the supervisor of the IVA.

The advantage to the insolvent individual is that he or she may be able to retain assets, such as the matrimonial home, and will avoid the stigma of bankruptcy. The advantage to the creditors is that they generally receive a higher dividend than they would do in a bankruptcy.

Bankrupts could have their bankruptcy annulled by arranging an IVA with an Insolvency Practitioner.


  • You pay a one off sum or a monthly, affordable amount in instalments for the duration of the IVA.
  • An IVA is legally binding on your creditors.
  • Your creditors accept a percentage of what they are owed in full and final settlement of your debts.
  • When you have paid all of your instalments, you will have fulfilled your obligations and will legally be free of your debts.
  • IVA’s are not advertised in newspapers.
  • Your employers are not informed.
  • The duration of the IVA can be set to suit your circumstances.
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