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IP Roles


Only a Licensed Insolvency Practitioner (IP) can administer an IVA. The IP takes on different roles depending on the stage of the IVA process ;


As an adviser, the IP will inform the debtor of all the solutions available, which usually include re-mortgaging the home, consolidating debts into a loan, debt management, bankruptcy, and IVA. The adviser will look at your specific circumstances and your level of debt to advise the best solution.


If you and the IP consider an IVA appropriate then the IP will then become the Nominee. The Nominee's main role is to help direct you on drafting a proposal to the creditors. The proposal is usually a standard document that is modified to your specific circumstance. Common terms will include:

  • An analysis of the your income & expenditure
  • From this, your disposable income is calculated
  • The amount paid into the IVA periodically (usually monthly)
  • A background history explaining how the your financial difficulties arose
  • Information about what may happen if your disposable income increases during the term
  • Details of any assets that are to be realised or excluded
  • The ability to call future meetings of creditors in the event of a change in circumstances and modify the terms of the IVA
  • Restrictions on obtaining credit


The IP will act as a Chairman and will hold a meeting with the creditors and negotiate with you and the creditors to approve the proposal. Often the creditors will ask for changes to the proposal at the meeting. One of the common modifications put forth by the banks is to include restrictions on your right to obtain credit, ensuring payments increase if the your income increases, specifying a minimum return 40 pence for every pound, and insisting that the Supervisor fails the IVA if you miss three or more payments.


If the creditors approve the IVA, then the IP will become the Supervisor of the IVA.

In this roll, the IP will have to report annually to the creditors, the court and to you. It will also involve monitoring you to ensure that you are complying with the terms of the arrangement, agreeing creditor claims, making payments to them, and generally ensuring that you are staying in accordance with the terms of the proposal. You will have to comply with all reasonable requests to the Supervisor, which could include periodically providing bank statements, wage slips, and account information.

Are you eligible for an IVA ?

Try our simple debt solution calculator to find out.

To get the best information for your circumstances it is always recommended to speak with a qualified adviser. We could be helping you in a few short minutes in a friendly, no-obligation chat : Request a call back or call us on 0800 043 3329

Alternatively if you would prefer to receive information by e-mail, please feel free to contact us via this simple form.