Q&As

If an individual is entering into an IVA and owns a property, will any restrictions be placed on the property to prevent its disposal during the IVA?

Produced in partnership with Eleanor Stephens

Published on: 25 February 2025

An individual voluntary arrangement (IVA) is an agreement entered into between an individual and their creditors (and possibly with third parties) for a composition of that person’s debts or a scheme of arrangement (scheme) of their affairs. In practical terms, an IVA takes the form of a written document (described as the ‘proposal’) that contains the terms on which the debtor intends to compromise or rearrange their various relationships

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Eleanor Stephens

Solicitor

Eleanor qualified in 1998 into the insolvency team at ASB law. She became a partner in 2005, and went on to head up the Recovery & Insolvency team and latterly the Dispute Resolution team incorporating the R&I team. Whilst originally specialising mainly in contentious corporate insolvency matters, in recent years she also moved into the non-contentious arena, in particular specialising in advisory work and company administrations. For many years she led a team acting for the Department of Business Innovation and Skills in disqualifying company directors for the Secretary of State. Eleanor joined Lexis Nexis in February 2011 to set up the Lexis PSL Restructuring & Insolvency product, heading up a team of in house lawyers writing on line content for lawyers and insolvency practitioners. Eleanor now works as a freelance solicitor, including writing for Lexis Nexis.