IVA Protocol
A standard framework for straightforward consumer IVAs in England and Wales, setting expectations for how qualifying cases should be proposed and supervised.
Also known as: IVA
Related terms
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Individual Voluntary Arrangement (IVA)
A formal agreement in England and Wales between an individual and creditors to repay or settle debts on approved terms, supervised by an insolvency practitioner.
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IVA proposal
The formal terms offered to creditors in an IVA, setting out payments, assets, contributions and how creditors would be treated.
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IVA supervisor
The insolvency practitioner responsible for overseeing an approved IVA and ensuring its terms are followed.
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