What is an IVA IVA stands for Individual Voluntary Arrangement and although they aren ‘t new they are uknown to a lot of people who consider their only escape from their creditors is bankruptcy. IVA’s were first introduced in1986, and were brought in by the government under the insolvency act. If you wish to have an IVA you have to have a legally binding contract between the debtor and creditors. Typically you would expect an IVA to run for approxamately five years, it will typically lasts for 5 years, and once it has passed the agreed term the debtor walks away [...] Read more »