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Individual voluntary arrangement (IVA)

With an IVA you pay what you can afford, for a fixed amount of time. When you successfully complete your IVA, any debt you have not paid back will be written off.

You and the people you owe agree to terms that protect you both during your IVA. This is a flexible solution that can help you make a fresh start.

We are here to make your IVA a success. We will set up your IVA and are on hand to keep you on track throughout.

Get online debt advice to find out if an IVA is right for you
  England, Wales and Northern Ireland. We do not charge you for advice, but you make payments to your insolvency practitioner once your IVA is in progress.

IVAs with StepChange

We are a regulated charity with more than 30 years’ experience. We have helped more than seven million people. You can trust us.

  •  Individual voluntary arrangements are arranged by StepChange Voluntary Arrangements, part of StepChange Debt Charity
  •  Claire Lindley and James O’Carroll are licensed to act as insolvency practitioners
  •  All the money we make from IVAs are ‘gift aided’ back to the charity. This means we do not make a profit from them
  •  All providers charge fees for IVAs. Our IVA fees come out of the agreed monthly payment. There is no charge on top of that or any up-front fees
  •  For the last five years 85% of the people who have had an IVA with us have successfully completed their IVA and become debt free. That is 15% higher than the industry average

What is an IVA? Watch our video

  • How we helped Kevin
  • “In April 2024, I completed my IVA after 5 years - it’s an incredible feeling to have money in my pocket again.” Read Kevin's story

IVAs are not available in Scotland. Read our guide about protected trust deeds, which are similar but have their own rules.

About individual voluntary arrangements

A structured and flexible way to deal with debt

Take the pressure off with a clear payment plan

  • Your IVA will be based on what you can realistically afford to pay
  • We make sure you can still live comfortably while you make your payments
  • Your payments cover all your IVA costs
  • Your payments will be reviewed each year to make sure you still can afford them
  • You can change or pause your payments if you need to

Fixed number of payments

Plan for your debt-free day

  • IVAs usually last between 5 and 6 years. Your IP will explain this to you
  • Once you have made all your payments, you will be debt-free
  • You may be able to settle your debt early if you come into money
  • You may also use assets, such as equity in your home, to repay what you owe

Reduce the debt burden

Lower the amount you owe or have to pay back

  • Your creditors will agree to writing off some of your debt
  • No more interest or charges can be added

Legal protection

No further action from your creditors

  • Debt collection must stop when your IVA starts
  • No more scary letters, emails or phone calls
  • Your IP will deal with your creditors for you and manage your payments
  • You can keep your assets, such as your home or car

Professional support throughout

We are with you until your IVA ends

  • An expert team helps you set up your individual voluntary arrangement
  • We are on hand until you complete your IVA
  • We review your payment plan each year
  • We will help you work out how to pay off your IVA more quickly – if this is what you want to do

How do I get an IVA?

You don’t do this alone. We are on hand to manage your application.

  1. Get debt advice to find out if this is an option that can work for you
  2. We will share a ‘personal action plan’ with you. This will tell you what you need to do next
  3. We will draft your IVA proposal for you and send it to your creditors
  4. We will deal with any queries so it can be approved
  5. Once approved, we will arrange your monthly payments

"Absolutely brilliant service"

"Brilliant all round service from StepChange, takes away all your worries and anxiety. We'll recommended for anyone struggling financially."

Debra, Feefo Review

Benefits of an IVA

  • You pay a single monthly amount. This is based on what you can afford
  • There are no set up fees to be paid before your IVA is agreed
  • Your remaining debts are written off after you make your final payment. This means you do not pay them back
  • Interest, charges and debt collection stop when you are on an IVA. This means the amount you owe stops growing
  • Your insolvency practitioner deals with creditors on your behalf
  • Creditors included in your IVA cannot take legal action against you
  • Your home is protected in an IVA. You do not need to sell or re-mortgage your property. Your IVA may be agreed at six years instead of five years if there is equity in your home

Risks of an IVA

  • Your creditors could ask you to reduce your living costs if they feel they are too high

If you do not finish your IVA:

  • None of your debts will be written off
  • You will have to pay them all back
  • Your creditors will contact you again
  • Your creditors can add any missed interest and fees

Ready to find out if an IVA might be right for you?

Use our online debt advice service to find out what options you have for dealing with your debt. Start, pause and pick up again in your own time.

Start online debt advice now

There is no impact on your credit score

Is an IVA too good to be true?

You might have seen adverts making bold claims about how individual voluntary arrangements can write off your debts – some of these claims might not be true.

You can trust us to give you the right advice for your situation.

Here are the questions people often ask us

When you go ahead with an IVA, you should always be working with a licenced insurance practitioner – as ours are.

You can check their details on the Insolvency Service website.

There are some companies advertising IVAs who look like they provide them, but all they do is refer customers to other companies.

And there are some people who pretend to be us in adverts to scam people. Find out more about what to do if you are worried about scams.

You should always get impartial advice before going ahead with an IVA.

Through debt advice you will find out if an IVA is right for you or if there are other ways you might be able to deal with your debts. Some companies make money from the number of IVAs they set up, so they are less likely to tell you about other options.

Always get free advice from IVA companies who are regulated by the Financial Conduct Authority (FCA). Just like we are.

Check it, trust it: Find out how to check a debt advice provider can be trusted.

It is very likely that you can write off a big chunk of what you owe.

Without looking into your finances in detail and drafting your IVA, it is not fair to make claims about how much can be written off.

Your IP will work this out with you. We always aim for the best agreement for you. That includes finding ways to pay off what you owe as early as you can.

Maybe it is, maybe not. But waiting and hoping for things to get better may not always work out.

Read our guides below to find out more about how IVAs work and how they can affect different parts of your life.

Not sure if you need debt advice?

Find out what type of help you need now. Just take two minutes to answer some simple questions. Get started now

These debt solutions work in different ways. Whether they are right for you or not depends on your situation.

You should only go ahead with a debt solution after having impartial debt advice. And only if you are sure you understand how your solution can affect you.

With a DMP, you make monthly payments towards your debts. It is different to an IVA because it is 'informal'. That means you can stop any time and you do not have protection from the people you owe. Read our guide "IVA or DMP?".

Bankruptcy is another type of insolvency, but has different rules to an individual voluntary arrangement. Read our guide "IVA or bankruptcy?".

Every IVA costs money to set up and run. You pay your fees through your monthly IVA payment.

  • Your fees are detailed in your IVA proposal, which an insolvency practitioner will draft
  • Any fees have to be approved by creditors

We pay our IVA fees back into the charity, so we make no profit from them. And there are no set up fees for IVAs with StepChange. Find out more about IVA fees and costs.

Many types of credit are included in an individual voluntary arrangement. Such as credit cards, loans and overdrafts.

Your insolvency practitioner will let you know debts can and cannot be included.

Read our guide to debts included in an IVA.

Read our IVA guides

We have answers to all your IVA questions in our IVA debt information guides.

What is an IVA?

Learn about what debts are included, what a lump sum IVA is and how they compare to other solutions.

Read our 'What is an IVA?' guides

Getting an IVA

Learn about the costs and fees, the role of the Insolvency Practitioner, getting credit or loans and about IVA companies.

Read our 'Getting an IVA' guides

How an IVA affects me

Learn about how an IVA can affect your job, mortgage and credit rating. And find out about the IVA register.

Read our 'How an IVA affects me' guides

Managing an IVA

Learn about how to make your IVA a success and how to deal with unexpected costs or life changes.

Read our 'Managing an IVA' guides

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We have helped millions of people since 1993.

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