In the UK, an Individual Voluntary Arrangement (IVA) is a formal choice for individuals wishing to stay away from bankruptcy.
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An IVA or Individual Voluntary Arrangement is a similar procedure; the main difference between the two being that a CVA has been made for limited companies, whereas IVA is used to handle individual insolvency cases. …
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You are eligible to apply for Individual Voluntary Arrangement , generally known as IVA, if the amount of your outstanding debt is 15000 or above. In the times of economic crisis, this serves as a very useful debt solution.
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IVA Questions and Answers