Most of your debts will be included in an IVA, but there are some exceptions. When the arrangement ends, any remaining balances should be written off. An individual voluntary arrangement (IVA) is a legally binding agreement between you and your creditors to help you pay off your debts.
There’s no limit to the amount of debt included in an IVA, however certain debts cannot be included.
Find out if an IVA is right for you