Individual Voluntary Arrangements outcomes and providers 2024
Statistics on the outcome status and providers of individual voluntary arrangements registered in England and Wales.
Applies to England and Wales
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In 2024, 67,099 IVAs were registered in England and Wales, remaining at a similar level to the 64,019 registered in 2023. This follows a decline from the record high number of 87,849 in 2022, marking two consecutive years of lower numbers after the increasing trend seen between 2015 and 2022, as shown in Figure 1. Five firms accounted for more than half of new IVAs registered in 2024.
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In England and Wales, one in 17 IVAs (5.7%) registered with the Insolvency Service in 2023 terminated within one year of being approved. This was similar to the one-year termination rate for IVAs registered in 2021 and 2022, but higher than the record-low one-year termination rate in 2020, which coincided with temporary support measures in response to the COVID-19 pandemic.
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The two-year termination rate for IVAs registered in 2022 was 14.5%, which was similar to the rate for IVAs registered in the previous year. However, the three-year termination rate for IVAs registered in 2021 was 20.5%, reflecting an increase compared to those registered in 2020.
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Termination rates over the lifetime of an IVA were approximately one in three (33%) for IVAs registered between 2016 and 2018. IVAs registered in 2019 and 2020 show signs of lower lifetime termination rates. For these IVAs, the first three years, which is when the majority of terminations occur, coincided with the implementation of support measures in response to the COVID-19 pandemic. A definitive trend for 2021 and later is difficult to establish, as more than three-quarters of IVAs registered in these years were still ongoing at the end of 2024. However, for 2021, the three-year termination rate was higher than for 2019 and 2020, but lower than for 2016 to 2018.