An IVA is a contractual arrangement between you and the people you owe money to (your creditors), supervised by a licensed Insolvency Practitioner.
Based in Scotland? Find out more about Protected Trust Deeds, the Scottish equivalent to an IVA.
If you live in England, Wales or Northern Ireland – You can find out more about your options for dealing with your debts or how an IVA works from these organisations:
What is an Individual Voluntary Arrangement? – MoneyHelper
Individual Voluntary Arrangements – National Debtline
Individual Voluntary Arrangement – Northern Ireland – NI Direct