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IVA is a good debt repayment policy when debtor is passing through certain debt difficulties. If he desires to keep his home and to avert bankruptcy, if he is ready to pay back his debts through a 5 to 6 years repayment procedure, if he wants to safeguard his credit record from the negative tag of bankruptcy, and if he wants to keep his debt problems in clandestine from his social relations then IVA is the best way out to solve of all unsettled debt problems through a legal voluntary arrangement which not only restricts the risk of bankruptcy but also make both parties legally restrained to the terms and conditions of this flexible debt repayment arrangement.

IVA is considered to cater the needs of both creditor and borrower in order to acquire out a middle system to avoid bankruptcy which ruin things on both ends. Therefore the key components of Individual voluntary arrangement include the assurance of certain things for both sides. It consists of the assurance to provide the better financial flexibility to borrower as compared to bankruptcy and to pay off all remaining debt to creditor securely. If creditor and debtor are finding these assurances in an IVA offer then it is fulfilling its definite goal in solving the economical complications on both sides without losing any belongings, asset or social status in case of declaring insolvency for them.