IVA Protect is a groundbreaking, exclusive service from ClearDebt that offers payment protection for everyone with a ClearDebt IVA.

• IVA contributions protected on all suitable IVAs
• No charge to debtors – lowest possible cost to creditors
• Provides stability and confidence for debtor and creditor

The Waiver of Contributions Agreement

The waiver of contributions agreement is designed to protect your monthly IVA contributions and remove the worry of unemployment or serious illness for debtors in IVAs. It should give many more people the confidence to arrange an IVA than has been possible before.

The waiver of contributions agreement will pay up to 12 months IVA contributions for any one claim should a debtor be unable to work due to accident, illness or involuntary unemployment. Accident and illness are covered from the day the debtor’s proposal is accepted, but a 90 day qualifying period is required for insurance cover for unemployment. After the 90 day period any further occurrences of unemployment or illness will be covered for additional 12 month periods.

ClearDebt don’t receive any commission on this IVA waiver of contributions agreement, and it won’t increase the amount you have to pay in your IVA. The policy will cost 4% of the contribution offered to creditors by each debtor. Cover is likely only to be declined if the debtor is aware of any impending redundancy or debilitating illness.

Our waiver of contributions cover, branded IVA Protect, allows ClearDebt to offer the best service to both creditors and debtors. ClearDebt aims to provide the most transparent and ethical service to debtors at the lowest cost. All of our customer-facing staff are trained in IVA provision and all have insolvency practice experience: ClearDebt is not a call centre, nor do ClearDebt employ call centre type operatives.

Our principles include providing the best debt advice wherever possible to all debtors: Where the facts indicate an IVA is the right solution ClearDebt will provide advice and support – but never pressure to the debtor. Where the facts indicate other solutions ClearDebt will point the debtor in the right direction.