Individual Voluntary Arrangement (“IVA”)

A professional who due to an unforeseen claim could no longer pay his creditors as and when they fell due.


  • The debtor approached us following receiving a large claim which he had not forecast. The claim was in relation to a disputed debt which the debtor believed was not due.
  • The debtor had reached an age where it would be difficult to source a mortgage and therefore was keen to remain in ownership and occupation of his property.
  • An income and expenditure account was prepared to show what monthly repayments would be affordable. This took into account his fluctuating income levels.
  • The IVA proposal included this monthly payment for a period of 5 years. We also included a provision for a lump sum payment in lieu of selling his house or the requirement to re-mortgage.
  • Creditors initially rejected the proposal, however after negotiations with key creditors, the IVA was approved with only slight increased monthly payments.
  • The debtor has therefore been able to remain in ownership and occupation of his property and was happy with the level of personal communication he had with us during an understandably difficult period.


For more information on IVA’s, please click here