New IVA regulation site launched

Managed by several lawyers and accountants, IVA.com will post online feedback about IVA firms and insolvency practitioners.

The website hopes that this will have the double effect of improving quality and increasing competition.

An IVA.com spokesperson said: “We at IVA.com believe that the key to workable regulation in the debt solutions industry is transparency.

“By making industry-wide customer feedback publicly available, we hope to reduce mis-selling, raise awareness and encourage free market competition to the benefit of consumers.”

The launch of the website follows a summit meeting attended by debt management firms and the banking industry, where it was agreed that a voluntary code to govern IVAs would be created.

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