What is an Individual Voluntary Arrangement?

An Individual Voluntary Arrangement (IVA) is an instrument of public policy, launched by the government in 1986 as a less severe alternative to bankruptcy. It is designed to help those that are struggling with unmanageable debts.

There is no other debt solution, except bankruptcy, that can write off part of your debt. With an IVA, you could become debt free in as little as 60 months as long as you comply with the terms and conditions.

An IVA can only be arranged by a licensed Insolvency Practitioner, who will help you agree what you can afford and put forward your proposal which is subject to the consent of your creditors.

To see if you are eligible for an Individual Voluntary Arrangement, it is important that you seek professional advice. Please call our IVA team on freephone 0800 048 1766.



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