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The changes to the IVA protocol bring further clarity and certainty for both consumers and creditors.
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Research published in October 2024, showed concerning evidence of poor practice by some providers.
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The revised protocol comes into effect from 1 June 2025 and is the product of the agency working alongside regulators, creditors, IVA providers and charities.
The Insolvency Service has published a revised Individual Voluntary Arrangement (IVA) protocol to improve the service currently offered to people in debt and safeguard them from poor practice.
IVAs are a legally binding agreement between a person who is insolvent and their creditors.
The new protocol includes an easy-to-read…
