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Individual voluntary arrangements explained

These pages tell you the basics about an individual voluntary arrangement (IVA) and what the eligibility criteria are for getting one. It covers what debts can be included and how much spare income you need to get one.

Debts an IVA covers

Lists the debts that can and cannot be included in an individual voluntary arrangement and whether it is appropriate to include joint debts.

What an IVA is

Summarises what an individual voluntary arrangement is, how repayment works and whether some of your debt can be written off.

Cost of an IVA

Explains how much it will cost to apply for an individual voluntary arrangement and when and how to pay the insolvency practitioner who sets up the arrangement.

Check you can afford an IVA

Explains the income and assets you must have to be eligible for an individual voluntary arrangement.

Fast track voluntary arrangements

Explains why you might choose a fast track voluntary arrangement, in order to cancel your bankruptcy, and how to apply to the Official Receiver to set one up.

IVA as an alternative to bankruptcy

Explains why choosing an individual voluntary arrangement may be preferable to going bankrupt and points out some of the risks and benefits.

UAT (Release)