An individual voluntary arrangement (IVA) is an affordable, legally binding way to pay off debts. Most debts are included in an IVA, but not all.
Any leftover balances are usually written off when the IVA ends.
There is no limit to how much debt can be included in an IVA.
Some debts cannot be included.
Find out if an IVA is right for you
IVAs are arranged by StepChange Voluntary Arrangements, part of StepChange Debt Charity. In Scotland, a protected trust deed is a similar solution. This has different benefits, risks and fees.
Get free and impartial debt advice before choosing an IVA.
You can only get an IVA with the help of an insolvency practitioner.
StepChange is an approved organisation to manage IVAs.
Clare Lindley and James O'Carroll of StepChange Voluntary Arrangements are licensed to act as insolvency practitioners in the UK by the Insolvency Practitioners Association.