"Chris helped me draft the perfected grounds for appeal and the skeleton argument. All were submitted."
— Regine from Wembley
An IVA lets someone in personal debt repay what they can afford over five years, protect their home, and emerge on the other side with debts written off. For the right profile — regular income, equity worth protecting, multiple unsecured debts — it is the best tool in the statutory debt-solution box.
Work alongside your Insolvency Practitioner — not against them. The IP role is statutory and cannot be replaced. What Chris replaces is the £200–£400 per hour of solicitor or paralegal drafting that surrounds the IP’s work. Directors who arrive with clean drafts get faster, cheaper outcomes.
Redraft to Queen’s English perfect — pounds singular, not thousands multiplied.
When IVA fits
- Unsecured debts of £10,000+ (some IPs set higher thresholds)
- Regular income able to afford monthly contributions
- Homeowner with equity that would be at risk in bankruptcy
- Profession with licence issues affected by bankruptcy (financial services, solicitor, some HR roles)
- Desire to avoid the bankruptcy register
The IVA structure
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- Fixed term — usually 60 months (5 years)
- Monthly contributions based on surplus income (SFS — Standard Financial Statement)
- Equity release in year 4 or 5 for homeowners (remortgage if possible; if not, an extension of 12 months with continued contributions)
- Supervisor distributes contributions to creditors pro rata
- At end of term, remaining debts written off
The proposal
Under IR 2016, the proposal must contain:
- Details of the debtor and their affairs
- Assets, liabilities, income, expenditure
- Proposed contributions and duration
- Treatment of preferential and secured creditors
- Nominee and supervisor details
- Any equity provisions
- Protocol-compliant or bespoke terms
Let Chris draft the document pack
Arrive at your IP meeting with proposal, statement of affairs, and creditor correspondence already drafted. The IP reviews, signs off, administers. Your total legal cost drops by thousands.
The IVA Protocol
The “IVA Protocol” (agreed between industry bodies and major creditors) standardises terms for consumer IVAs. Protocol-compliant proposals are more likely to be approved by protocol signatories (all major banks, major debt-buying companies). Chris drafts protocol-compliant proposals where suitable, or bespoke proposals where the Protocol doesn’t fit.
The creditors’ decision
- 75% by value of those voting approves
- 50% of unconnected creditors must approve (connected creditor cap)
- Approval binds all unsecured creditors with proper notice
- Secured and preferential creditors not bound unless they agree
The interim order
Where creditors are enforcing or a bankruptcy petition looms, s.252 IA 1986 interim order stays proceedings for 14 days (extendable to allow creditors’ vote). Chris drafts the interim order application with supporting witness statement.
Failure and termination
If the debtor falls more than 3 contributions behind, the supervisor usually issues a breach notice. Failure to cure leads to termination. Consequences can include bankruptcy petition by the supervisor. Drafting anticipatory variation proposals keeps most IVAs alive through temporary hardship.
What Chris drafts
- Full IVA proposal (Protocol or bespoke)
- Standard Financial Statement with evidence schedule
- Statement of Affairs
- Interim order application + witness statement (where required)
- Creditor correspondence during proposal and administration
- Variation applications for changing circumstances
- Annulment-of-bankruptcy application where an IVA is proposed after bankruptcy
The nominee/supervisor IP is still required. Their fee is still payable. What Chris replaces is the £1,500–£3,000 of “pre-IP” paralegal work you would otherwise pay for.
Prepare to win. Plan not to fail.
IVAs last five years. Draft the proposal the version of you in year five will thank the version of you in year one for.
Elite drafting, whoever drafts.
Chris drafts the documents your IP needs — and the ones solicitors would otherwise bill separately. Refund before we file a document that isn’t ready.
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