Supporting creditors by improving IVA standards
Recently creditors have seen their returns in IVA decrease and many more IVAs fail: The increase in early years terminations is a genuine concern; the result can only be a further reduction in returns. TIP believes that a small number of IVA providers, who process a disproportionately large volume of cases, are putting commercial interests before those of debtors and creditors. Insolvency practitioners must balance the needs of creditor and debtor equally. TIP, with our panel of IPs, want to bring that balance back by creating a level of transparency and accountability that returns confidence and trust to the insolvency process.
Our aim is to restore positive channels of communication between creditors, creditor representatives and insolvency practitioners so that we can work together to create the outcomes the everyone deserves.