IVA’s hit record levels in the UK

New figures from the Insolvency Service show that there were nearly 88,000 IVA’s were registered in England and Wales in 2022, the highest annual number since records began in 1990.
In England and Wales, one in 18 Individual Voluntary Arrangements (IVAs) (5.5%) registered with the Insolvency Service in 2021 terminated within one year of being approved. This was lower than the one-year termination rates in 2015-2019, but higher than the record low one-year termination rate in 2020, whi