Creditors ‘to blame’ for fall in IVAs

Creditors were to blame for the fall in the number of people entering an Individual Voluntary Arrangement (IVA) last year, according to David Mond, chief executive of ClearDebt.

Mr Mond is convinced that thousands of consumers have been denied access to an IVA as a means of a debt solution by lenders that have been unwilling even to asses their case.

The stance of creditors around the county amounts to widespread “intransigence” that has left many people in the UK facing insurmountable debt management problems, he went in to suggest.

” Individual Voluntary Arrangements (IVAs) have fallen again for one very simple reason: there are creditors and creditor’s agents out there who have taken the unilateral choice to reject Individual Voluntary Arrangements (IVAs) no matter what the case in hand offers,” said Mr Mond.

Official figures from the Insolvency Service showed that the number of people who entered an IVA last year was 4.9 per cent down on the same data for the previous year.