Individual Voluntary Arrangement (IVA)

Take control of your financial situation with an Individual Voluntary Arrangement (IVA).

It’s an empowering solution that allows you to negotiate with your creditors and repay your debts, either in full or in part, over a manageable period of time. Say goodbye to the looming threat of bankruptcy and regain your financial stability.
As licensed insolvency practitioners, our primary goal is to ensure your complete understanding of the available IVA alternatives. We are dedicated to tailoring affordable and reasonable payment arrangements that cater to your specific needs. By the end of the IVA journey, any remaining unsecured debt will be completely written off, granting you the freedom from debt you deserve.

Process: How IVA works,
step by step

If you’re really not sure if IVA is an option for you,
we’ll help you decide, step by step.

Step 1

Set up a free, no obligation consultation, meet or chat remotely with a qualified insolvency practitioner. We’ll have a frank conversation about whether IVA is the right option for you.

Step 2

We’ll request supporting information to help prepare an IVA proposal.

Step 3 

We’ll set up a creditors’ meeting and work out what you can afford to repay and how long the IVA lasts. 

Step 4

Ensure your IVA agreement approved – from that point creditors will stop contacting you and your assets will be safe. 

Step 5 

Issue a completion certificate, any remaining debt will be legally written off.


An individual voluntary arrangement (IVA) is a legal agreement between an individual and their creditors to repay their debts, usually through an agreed affordable monthly payment over a five-year period. The amount agreed to must be reasonable and usually results in a percentage of the debt being repaid and the remaining balance being written off. For an IVA to come into effect, at least 75% of creditors who vote on it must agree to its terms.

At the end of your IVA any unsecured debt left is written off.

You can also make a one-off payment known as a lump-sum IVA, which will mean that an IVA may only have to last a few months.

  • Creditors will receive a more favourable return than in a bankruptcy scenario
  • Individuals will avoid the stigma, restrictions and consequences of bankruptcy as well as maintaining control of their estate
  • Interest on debts will cease to be applied on approval of an IVA
  • In certain circumstances, creditors will write off a significant proportion of their debt
  • Once complete, an individual voluntary arrangement will leave the individual debt-free

Before we can consider the various solutions available for an individual, it is important to first understand what the term insolvent means.

An individual is insolvent when they have insufficient assets to cover their liabilities/debts or are unable to pay debts when they fall due.

Case Study

Avoiding the threat of bankruptcy from HMRC.