Honestly you can't get through a day without hearing about an IVA, whether its on the television, the radio, in the press, there is no denying it IVAs are everywhere! In fact its hard to remember a time when you weren't bombarded by IVA advertisements.

IVAs have actually been with us far longer than you think, they have been around since the mid 1980's so they are not as new as we all thought. Originally IVAs were brought in to deal with people who were in business, entrepreneurs and the self employed. However recently, the late 90's onwards, it has been the consumer who has championed this debt solution as their own.

The media coverage surrounding IVAs is of course the main reason why there has been such a phenomenal growth in the numbers who apply for IVAs, somewhat misleading 'too good too be true' deals have also most certainly contributed to the issue. Another reason why IVAs have become so widely popular is because the Banks are taking IVAs much more seriously then they ever have done before, they are agreeing and accepting them more often now whereas they didn't previously.

A slightly less obvious but quite upstanding reason why IVAs are rather popular as a debt solution these days, is due to the fact the majority of people 'want' to pay back some of the money they borrowed; declaring bankruptcy is too extreme and isn't seen as so morally acceptable.