This site covers Individual Voluntary Arrangements from start to finish — from what an IVA is, through the supervision period, to completion and beyond. Use the links below to jump directly to any section.
Understanding your IVA
- 01 What is an IVA? A plain-English explanation of what an IVA is, its legal basis under the Insolvency Act 1986, and how it compares to bankruptcy, DROs and debt management plans.
- 02 Setting up an IVA How an IVA is proposed, the role of the Insolvency Practitioner as Nominee, how creditors vote, the 75% threshold, and what approval means for you.
- 03 Your Insolvency Practitioner Who your IP is, how they are licensed by the IPA or ICAEW, how their fees are paid from your contributions, their duties as Supervisor, and how to complain.
During your IVA
- 04 Monthly payments How your IVA monthly contribution is calculated using disposable income, annual reviews, what happens if income changes, payment breaks, and missed payments.
- 05 Your creditors Which debts are included in your IVA, how creditors are paid via dividends, whether they can still contact you, and what to do about omitted or new debts.
- 06 Assets and property How your home, mortgage, equity clause, vehicle, savings and pension are treated during an IVA. What you may keep and what you may need to realise.
- 07 During your IVA Your obligations throughout an IVA, how annual reviews work, declaring windfalls within 14 days, credit restrictions, and employment considerations.
- 08 Your responsibilities What you are legally required to do during an IVA: full disclosure, cooperating with your IP, credit restrictions, the windfall clause, and reporting changes in circumstances.
- 09 Annual reviews How IVA annual reviews work, what documents you must provide, what happens if your income has changed, and what to do if you disagree with the outcome.
Changes and problems
- 10 Changes and variations When a formal IVA variation is needed, how the proposal works, the creditor vote, what happens if a variation is rejected, and your Supervisor's discretion.
- 11 If things go wrong What to do if you are struggling with IVA payments, how to request a variation, what happens if you breach your IVA terms, the failure process, and your options afterwards.
- 12 Problems and IVA failure What causes an IVA to fail, the formal breach process, consequences of termination, the risk of bankruptcy, and practical steps to avoid your IVA failing.
Completion and after
- 13 Completing your IVA What happens in the final IVA year, the completion certificate, debts written off, the Insolvency Register, and your credit file after completion.
- 14 Credit and finances How an IVA affects your credit file for six years, managing bank accounts, restrictions on new credit, getting a mortgage, and rebuilding your credit profile.
Your rights and legal information
- 15 Your rights and the FCA Your legal rights during an IVA, how the FCA regulates debt advice, how to make a complaint about your Insolvency Practitioner, the Financial Ombudsman, and free debt advice services.
- 16 Legal aspects The legislation governing IVAs, your rights as a debtor, how to complain about your IP, the court's role under section 263, and sources of free debt advice.