These are the 21 most common questions our customers ask our IVA advisers. If you have a question that is not among these 21, please visit our additional IVA questions and answers page.

Simply put, there is a meeting between you and myself, the Licensed Insolvency Practitioner. Debt Lifeboat collates the information necessary to put forward a voluntary arrangement proposal to your creditors. Your creditors will then decide whether to vote in favour of it. It they do, it is usually because the outcome for them is preferable to bankruptcy. If it’s approved at the creditors’ meeting, it’s as binding upon creditors as it is binding upon you. That means that creditors now have to deal with me – they cannot continue to harass you. My duty then is to monitor the IVA for its duration, which is typically five years.