New qualification aims to improve IVA process

The IPA, which is now responsible for regulating the Debt Resolution Forum, suggests a “lite” qualification would not undermine fully licensed insolvency practitioners and would benefit those working in the UK’s debt management industry.

In the interests of both practitioners and consumers there ought to be a greater degree of specialism to reflect the continually growing demand, the IPA maintains, according to a report from Accountancy Age.

Chief executive of the IPA Nick Sabin remarked: “A number of practitioners could think it would devalue the brand, but the growth in personal indebtedness means it has become an industrial process and I can’t see this reducing in the near future.”

A recent report from north-west local news provider Preston Today claimed demand for Individual Voluntary Arrangements (IVAs) is increasing dramatically.