Who can do an Individual Voluntary Arrangement (IVA)?

An IVA is available to all individuals, Sole Traders and Partners who are experiencing creditor pressure. It is used particularly by those who own property and wish to avoid the possibility of losing it in the event they were made bankrupt.

It is also often used by sole traders and Partners who have suffered problems with their business but wish to secure its survival as they believe it will be profitable in the future. An IVA will enable them to make a greater repayment to creditors than could otherwise be expected were they made bankrupt and the business consequently ceased trading. Everybody’s circumstances are different, so it is best to seek professional assistance on your eligibility to enter into an IVA.