Why do I need an Insolvency Practitioner for an IVA?

The role of the IP in your IVA is to manage the payments to your creditors and act as a point of contact for your creditors. They will negotiate the terms of your IVA proposal and work on your behalf to seek approval of your draft.

Having a qualified professional looking after your IVA takes the worry of having to deal with creditors and, as IPs are industry regulated, are bound by a legal code of practice.

 

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