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IVA

IVA Protocol

During 2007 industry specialists including our Insolvency practitioner, Bev Budsworth, The British Bankers Association plus their creditor members and representatives from charitable sector contributed to four working parties to produce a protocol for straight forward consumer IVA’s.

The protocol was rolled out on 25 January 2008 and aimed to simplify the process but particularly to help make the process as fair as possible for both debtors and creditors. The protocol terms and standard conditions are reviewed by an independent committee, The IVA Standing Committee who ensure that Protocol Compliant IVA’s remain fair and workable.

The Debt Advisor uses the Protocol terms for consumer IVA’s. We also use protocol terms for IVA’s for self employed however, generally these IVA’s are not protocol compliant.

All IVA’s have standard terms and conditions the latest terms used by The Debt Advisor can be accessed as follows:

  • For IVA’s where the creditors meeting took place after 1st January 2014, click here. 
  • For IVA’s where the creditors meeting took place after 1st July 2012, click here.
  •  For IVA’s where the creditors meeting took place after 1st August 2008, click here. 

The Debt Advisor and The Business Debt Advisor use standard IVA conditions published by the Association of Business Recovery Professionals (R3), for all non-protocol compliant IVA’s. These can be accessed below.

  • For IVA’s where the creditors meeting took place after 1st January 2013, click here. 
  • For IVA’s where the creditors meeting took place after 1st November 2004, click here.
  • For IVA’s where the creditors meeting took place after 1st March 2002, click here. 

However it should be noted that even new non-protocol compliant IVAs can still use the protocol compliant standard conditions if so required.

The Pre April 2010 Voluntary Arrangements – A Creditors’ Guide to Insolvency Practitioners Fees can be accessed here

The Post April 2010 Voluntary Arrangements – A Creditors’ Guide to Insolvency Practitioners Fees can be accessed here

Important Information 

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it – all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. You have the right to a cooling off period of 14 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term. Calls to our free phone number from mobile phones and other networks may be charged.

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