IVA Protocol
At Financial Support Systems (FSS) we operate under a regulated framework to produce “protocol compliant” IVAs for our customers under something called The IVA Protocol.
The IVA Protocol is a voluntary standard framework used in England and Wales to streamline straightforward consumer Individual Voluntary Arrangements. It provides agreed standard rules, documentation, and fair conduct guidelines that Insolvency Practitioners and creditors choose to follow to make the process faster and simpler.
For your reference we have provided access to each of the protocols issued since 2016. When your IVA was approved determines which set of these applies to your IVA.
- IVA Protocol 2016 Version- Effective from October 2016
- IVA Protocol 2021 Version- Effective from August 2021
- IVA Protocol 2025 Version- Effective from April 2025
These protocols are used in connection with Standard Conditions for IVA’s which apply to IVA’s produced by FSS.
R3 Standard Terms
In the event that a non-protocol compliant IVA was considered appropriate for your individual circumstances, these will be conducted in accordance with the Association of Business Recovery Professionals (R3).
The R3 Standard Conditions can be accessed below:
Your Individual Terms
Every IVA is different. The Protocol and Standard Conditions set out the general framework that applies, but the specific terms of your arrangement are set out in your own IVA Proposal and Chairman’s Report, together with any Variations agreed since approval. This includes your contributions, the duration of your IVA, and any conditions particular to your circumstances.
If there is ever a difference between the general information on this page and what is set out in your own documents, your Proposal, Chairman’s Report and any Variations will always take precedence.
If you are unsure which terms apply to you, or cannot locate your documents, please contact us and we will be happy to help.
Important Information
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on successful completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release equity in their property, subject to certain criteria. If unable to release equity and equity is available an additional 12 months payments may be requested in compensation.
Financial Support Systems provides insolvency solutions to individuals, specialising in IVAs. We do not administer or provide advice relating to debt management products, such as Debt Management Plans. Advice and information on alternative options will be provided following an initial fact find where the individual(s) concerned meets the criteria for an IVA and wishes to pursue it further, as governed by our Insolvency Practitioners' regulators, the Insolvency Practitioners Association (IPA). All advice given on any alternative options is therefore provided in reasonable contemplation of an insolvency appointment.
MoneyHelper is a free, impartial service set up by the Government to help people make the most of their money. We have no affiliation with MoneyHelper. If you would like to learn more click here.
The Association of Business Recovery Professional, known as R3, produce a booklet called "Dealing with money worries - A guide to your options". This is a very helpful summary of the various options for dealing with debt and a copy can be found at the following link. Please also see link to 'Voluntary Arrangements - A Guide for Creditors on Insolvency Practitioner Fees'.