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The Insolvency Group Limited are proud to be a member of the Insolvency Practitioners Association (IPA) Volume Provider Regulation Scheme. The IPA strongly believes that the Volume Provider Regulation Scheme, a first in the insolvency profession, will deliver lasting confidence in the personal debt solutions market.
Launched by the IPA, the Volume Provider Regulation (VPR) Scheme came into effect on 1 January 2019.
The VPR Scheme was rolled out in response to the rapid development of the Individual Voluntary Arrangement (IVA) market – the most commonly used debt solution in England, Wales and Northern Ireland. The Scheme provides some of the closest scrutiny seen in financial services. More information on the Scheme, including the IPA’s Benchmark Report can be found here.
We could help stop interest and charges, set a realistic and affordable payment plan, and put an end to pressure from your lenders
Formal debt solution
An Individual Voluntary Arrangement, commonly known as an IVA, is an agreement between you and your creditors to help you pay off your debts at an affordable rate.
It is a formal, legal debt solution that agrees a repayment plan over a set period, condensing multiple unsecured debts into one monthly payment. At the end of the IVA the remaining debts are written off.
This is usually negotiated by an insolvency practitioner, who deals with your creditors throughout the life of the IVA, freeing you from handling the situation yourself.