BusinessBusiness RecoveryRegulate IVAs more closely, says trade body

Regulate IVAs more closely, says trade body

The sale of individual voluntary arrangements are under scrutiny, as Insolvency Practitioner's Association calls for kitemark standards

Debt management companies offering individual voluntary arrangements (IVAs)
could see their their activites more closely regulated under proposals put
forward by the Insolvency Practitioners Association (IPA).

The IPA is concerned that, although IVAs must be signed off by insolvency
practitioners, advertising and call centre staff fall outside the scope of
regulation.

The IPA is to meet debt management companies in the next few weeks to call
for more training and qualifications for staff and discuss possible kitemark
standards for the industry, the Financial Times reported.

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