Ivas - Possibly Your Best Recourse To Bankruptcy An IVA, or Individual Voluntary Agreement is a binding agreement between you and your creditors for repayment. It normally affords you reduced payment amounts and increased term length for repayment. It is good for you as recourse to insolvency. It is good for your creditors because they most generally would rather receive reduced, slower payments than being written off through your personal...... Source : The District
