An Individual Voluntary Arrangement (IVA) is a legally binding agreement that is typically made public through the Insolvency Register. An IVA is an agreement between you and your creditors to pay off your debts over an extended period of time. It is typically overseen by an insolvency practitioner, who is responsible for assessing your financial situation and determining whether an IVA is a suitable option for you.
The Insolvency Register is a public record that lists individuals and companies that have entered into an IVA or other insolvency arrangements. The information on the Insolvency Register is available to the general public, and it can be accessed through the government’s website.
While you may be able to keep the fact that you have entered into an IVA private from some individuals or organisations, it is generally not possible to keep it completely secret. If you are concerned about the potential impact of an IVA on your reputation or your employment, it is a good idea to speak with a qualified UK debt adviser for advice. They can review your specific situation and help you determine the best course of action.