An IVA stands for Individual Voluntary Arrangement.  Basically they are informal payment arrangements that help those of us who are unable to repay our debt.  My husband and I both have lost jobs in the last six months and have hit some hard financial times. We found it impossible to pay any of our creditors and looked for a solution that might help us. An IVA was a debt solution that really gave us a chance to save our home and car and to keep from heading into bankruptcy. We are now able to pay our bills and keep our good name and our good credit.