Individual Voluntary Arrangement (IVA)

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An IVA is a legally binding agreement between an individual and their creditors. It allows an individual to reorganise their financial affairs and takes away the devastating stress caused by being under sustained financial pressure from the people to whom they owe money.

To enable us to advise, a member of our team will obtain full details of your circumstances to include a full disclosure of all your assets and liabilities.

On receipt of the information a full review will be undertaken to enable us to provide all available options in order that you have all the information available to make an informed decision.

If legal action has been commenced, we can refer you to one of our panel members of insolvency solicitors to assist in delaying action until a proposal can be put forward to your creditors.


A proposal put to the creditors must show that they will make a better recovery by agreeing to the IVA than if the individual is made bankrupt instead. The proposal is confidential and the debtor remains in control of their assets, but the conduct of the IVA is overseen by an insolvency practitioner, who is known during the process as the supervisor.

An individual can put proposals for an IVA to their creditors if they have already been declared bankrupt or if they have been presented with a bankruptcy petition by a creditor. If the debtor is self-employed and has a viable business, they can continue to trade.


RBW Restructuring & Insolvency offer a bespoke service that is personal to every particular case. If you would like to understand the IVA process in greater detail, please call our personal insolvency team on 01372 711050 or email [email protected]