Is an IVA really worth it?
In most cases, an step change IVA lasts at least five years. This isn’t going to be a quick fix. An IVA is usually not worth it if you have big debts today but expect to be able to repay them shortly because you have money due (for example, an inheritance or back pay of child support or benefits).
Despite the figures you’ll see quoted on lots of IVA Advice companies’ websites, there is no strict minimum amount of debt that can be included in an IVA. It really could be any amount BUT an IVA does have costs associated with it and these can be quite high.