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The video explains the main commitments involved with taking on an IVA, including fees, payments, and suitability.
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The launch marks a continued commitment by the Insolvency Service to support Insolvency Practitioners and people in debt.
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The recently introduced IVA protocol, together with a new key facts document, brings further clarity and certainty for both consumers and creditors.
The Insolvency Service has launched an animated video which gives important information to people in debt who are considering taking on an Individual Voluntary Arrangement (IVA).
## What is an Individual Voluntary Arrangement (IVA)?
IVAs are a legally binding agreement between a person who is insolvent and their…