An IVA is an Individual Voluntary Arrangement. It’s a formal insolvency procedure that can help people who’ve ended up in a situation where they can’t afford to repay their unsecured debts. It’s often seen as an alternative to bankruptcy, but that doesn’t mean it’s an easy option. It takes a lot of commitment to make an IVA...

IVAs (Individual Voluntary Arrangements) are a formal, legally binding debt solution – a form of insolvency. They are seen by many as a preferable alternative to bankruptcy (this is partly because an IVA is very unlikely to force the sale of your home, while bankruptcy is almost certain to). If you can’t afford to repay your unsecured debts within a...