Individual Voluntary Arrangements

Department for Business, Energy and Industrial Strategy written question – answered on 9th May 2019.

Alert me about debates like this

Photo of Frank Field Frank Field Chair, Work and Pensions Committee

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will establish an inquiry into the use of Individual Voluntary Agreements as a means of exploiting low-income and vulnerable consumers.

Photo of Kelly Tolhurst Kelly Tolhurst Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Individual voluntary arrangements, used appropriately, are a very useful tool for helping people to deal with problem debt and there are no current plans to review their use. However, Government has recently consulted on the implementation of a “breathing space” scheme, which aims to give people legal protection from creditor action while they seek debt advice from an independent, approved debt adviser about their options. This will help to ensure that an individual in problem debt can enter a debt solution most appropriate for their circumstances. The Government’s response to this consultation will be published in due course.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.