![What Is an Individual Voluntary Arrangement (IVA) Individual Voluntary Arrangement](https://www.postpedia.co.uk/wp-content/uploads/2022/12/BMD-Qualify-for-an-IVA-e1576012712374.jpeg)
What Is an Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement (IVA) is a legally binding agreement between an individual and their creditors to repay their debts over a period of time, typically five to six years. It is a way for people who are unable to pay their debts in full to come to an agreement with their creditors to pay…