• 0161 696 6170
  • Request a callback
Stephensons Solicitors LLP Banner Image

Individual voluntary arrangement (IVA)

An individual voluntary arrangement (IVA) is an alternative option to bankruptcy for individuals where debts have become unmanageable. Unlike informal debt management plans an IVA is a legally binding agreement between you and your unsecured creditors. 

An IVA can be a preferred option for many people as it allows breathing space from creditors and repayments are assessed on what you can realistically afford to repay. When entering an IVA your creditors agree to freeze any interest and charges by accepting a fixed monthly payment usually over the course of five years.

Our insolvency lawyers can advise if an individual voluntary arrangement is right for you and can support you through the process from start to finish. For advice call our legal specialists on 01616 966 229 or complete our online enquiry form and a member of the team will contact you directly.

loading staff

How will the UK Digital Markets, Competition & Consumers Bill affect B2C agreements?

On the 24th May 2024, the UK Digital Markets, Competition & Consumers Bill (DMCC) received royal assent and will come into effect from late 2024. The DMCC includes a number of new provisions and powers granted to the courts and the Competition and...

Read more

Renters Reform Bill abandoned

Following the announced election on the 4th of July 2024, it appears that the Renters Reform Bill has now been abandoned after it failed to become law before parliament was prorogued. The Renters Reform Bill was introduced in order to fulfil the 2019...

Read more

Insolvency team reorder

  • Louise Hebborn
  • Julie Hunter
  • Andrew Whitehead
  • Jade Fairhurst
  • Neil Marshall
  • Georgia Gaffney
  • Aaron O'Brien
  • Matthew Smith