IVA
Updated 14 March 2025
What is a joint IVA?
If you and your partner are struggling with debt, a joint individual voluntary arrangement (IVA) might help you get your finances back on track.
Find out what a joint IVA is, how it works and if it might be right for you.
How do joint IVAs work?
A joint IVA, also known as an interlocking IVA, involves setting up two separate IVAs that are linked together.
They may be suitable for two people from the same household who are struggling to repay their debts.
Considering an IVA?
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Setting up a joint IVA
If you and your partner decide a joint IVA is right for you:
- you’ll each apply for an IVA
- your IVAs will be administered together
- you’ll make one monthly payment between you
- each person’s contribution will be based on what they can afford
The benefits of a joint IVA
As well as all the usual benefits of a standard IVA, you’ll only pay one set of fees.
Things to bear in mind
When deciding if a joint IVA is right for you and your partner, remember:
- you’ll both still be responsible for your own debts
- creditors on both sides must approve the IVA
- one person's actions could affect the other person's IVA
- an IVA will impact both people’s credit scores
Before entering an IVA, you should get professional debt advice.
Written by: Michelle Kight
Financial content writer
Michelle is a qualified journalist who spent over seven years writing for her local online newspaper. Having grown up in some of the North West’s most deprived areas, she has a first-hand and empathetic understanding of what it means to face serious money worries. With a strong interest in mental health issues, she is a keen advocate of boosting the accessibility of financial wellness services.
Senior Content Manager
Last updated: 14 March 2025
Written by: Michelle Kight
Financial content writer
Last updated: 14 March 2025