The Insolvency Service would like to make it clear that we are in no way associated with an organisation called the IVA Council.  

IVAs are a flexible and effective means of dealing with debt. For debtors they provide protection from creditors, debt forgiveness, flexibility in terms of what assets are included, and none of the restrictions, which apply in bankruptcy.  For creditors they provide a better return than could be obtained in bankruptcy.  

IVAs allow debtors to repay their creditors that which they can reasonably afford and resolve their financial problems, and are supervised by licensed and regulated insolvency professionals. 

The principal statutory alternative to an IVA is bankruptcy.  Bankruptcy should always be the last resort as the debtor will lose control of their assets and will be subject to bankruptcy restrictions, potentially up to 15 years.  

Consequently The Insolvency Service does not condone any implication that people in IVAs should stop paying and enter bankruptcy.  If you have had any communication from the IVA Council or other third parties suggesting that you stop making payments under your IVA you should discuss this with the supervisor of the IVA and seek advice from professional, qualified advisers before taking any action.