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i England, Wales and Northern Ireland only

Individual voluntary arrangement (IVA)

Individual voluntary arrangements (IVAs)

An individual voluntary arrangement (IVA) is a formal agreement between you and your creditors that can help you repay your debts at an affordable amount.

IVAs are arranged by StepChange Voluntary Arrangements, part of StepChange Debt Charity.

IVAs are legally binding agreements that can help you deal with your debts. You can only get an IVA with the help of an insolvency practitioner (IP).

Clare Lindley and James O'Carroll of StepChange Voluntary Arrangements are licensed to act as insolvency practitioners in the UK by the Insolvency Practitioners Association.

With an IVA you put forward an offer of payments on your debts to your creditors. This will be based on what you can afford and include fees.

Fees are detailed in your IVA proposal, which an IP will assist in drafting. Any fees have to be approved by creditors. Your IP will explain what fees you need to pay for your IVA.

If you have an IVA, your payments towards your debts can be made through either a one-off payment, known as a lump sum IVA, or a 60 or 72 month repayment plan.

IVAs are not available if you live in Scotland. In Scotland, a similar solution is a protected trust deed, however it’s important to note that it has different benefits, risks and fees associated with it.

Watch: An introduction to IVAs

How can I apply for an IVA?

Before you consider applying for an IVA, you must get free debt advice (get started by using our online tool) to find out if this is the best solution for your situation and how it will affect you.

If you’d prefer to talk to us, call us (free from all landlines and mobiles) and speak to one of our expert advisors.

mum at the table with bills

Want to know how an IVA will work for you?

Free, online debt advice available now

Get debt help

IVAs with StepChange Voluntary Arrangements

If an IVA is the best solution for you, we have our own IVA company, StepChange Voluntary Arrangements. We can help you get an IVA if this is right for you. We’ll review your finances, then put forward a proposal for your creditors.

Our IVA costs and fees follow industry standards. If at any time you decide not to go ahead with an IVA with us, there will be no fees to pay.

StepChange Voluntary Arrangements is a registered trading name of Consumer Credit Counselling Service Voluntary Arrangements Limited, a wholly owned subsidiary of StepChange Debt Charity.

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