An Individual Voluntary Arrangement (IVA) is a legal agreement between you and your creditors, offering a structured and manageable way to repay your debts. It provides an alternative to bankruptcy, giving you the opportunity to make affordable payments over a fixed period. In most instances, the arrangement involves ‘writing off’ a portion of your debt once you’ve successfully completed the term of the IVA. All IVA’s are administered by an Insolvency Practitioner, whose role involves balancing your interests with those of your creditors to ensure a fair and mutually beneficial resolution.