IVA meaning in Governmental ?

Answer: What is Individual Voluntary Arrangement mean?

In England and Wales, an Individual Voluntary Arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy. In Scotland, the equivalent statutory debt solution is known as a Protected Trust Deed.

The IVA was established by and is governed by Part VIII of the Insolvency Act 1986 and constitutes a formal repayment proposal presented to a debtor's creditors via an insolvency practitioner. Usually (but not necessarily), the IVA comprises only the claims of unsecured creditors, leaving the rights of secured creditors largely unchanged. Insolvency practitioners charge initial and ongoing fees that are in addition to the debt.

An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances; they can therefore be based on capital, income, third party payments or a combination of these.

In this process, a debtor who has enough money left over after priority creditors and essential expenses, may be able to arrange an individual voluntary arrangement. (After taking independent advice, debtors with less serious problems may wish to consider a debt management plan.)

The analogous procedure for businesses is the company voluntary arrangement.

reference

Full Form	Category
Royal Swedish Academy of Engineering Sciences	Academic & Science
Kungliga Ingenjörsvetenskapsakademien	Academic & Science
Intellectual Virtues Academy	Academic & Science
Kungliga Ingenj?svetenskapsakademien	Academic & Science
Indiana Volleyball Academy	Academic & Science
Instability Visualization And Analysis	Business
Individual Voluntary Agreement	Business
Ivanhoe Australia Limited	Business
Ivanhoe Australia, LTD.	Business
International VAT Association	Community
Integrated Vocational Assignment	Community
Israel Venture Association	Community
Intelligent Video Analytics	Computing
Intelligent Voice Automation	General
Ideal Vehicle Awards	General
Intelligent Valve Actuation	General
In Vehicle Awareness	General
Individual Vehicle Assessment	General
Indirect Value Added	General
Intelligent Virtual Agents	General
International VELUX Award	General
International Value Advisers	General
In Vitro Activation	General
Individual Voluntary Arrangements	General
Infinity Vision Alliance	Governmental
Intra Vehicular Activity	Governmental
Individual Voluntary Arrangement	Governmental
Intelligence Virtual Architecture	Governmental
Institute for Vocal Advancement	Governmental
Individual Vehicle Approval	Governmental
Imposta sul Valore Aggiunto	International
Impuesto sobre el Valor Añadido/ Adjunto	International
Impuesto al Valor Agregado	International
Impuesto sobre el Valor A?dido/ Adjunto	International
Internet Video Archive	Internet
Indian Veterinary Association	Medical
Irish Veterinary Association (obsolete, now part of Veterinary Ireland)	Medical
Isovaleric acidemia	Medical
Ambanja, Madagascar	Regional