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Rate of individual voluntary arrangements (IVAs) per 10,000 adults (4568) Metric type
- Help text
- This is the sum of individual voluntary arrangements (IVAs) in an area expressed per 10,000 adult population. An IVA is a voluntary means of repaying creditors some or all of what they are owed. Once approved by 75% or more of creditors, the arrangement is binding on all. IVAs are supervised by licensed Insolvency Practitioners.
Individual insolvency data are sourced from the Insolvency Service case information system (ISCIS). IVAs are counted within these statistics once they are registered with the Insolvency Service, and they are reported by year of registration date. There is often a time lag between the date on which the IVA is accepted (known as the date of creditor agreement) and date of registration by licensed insolvency practitioners working for firms that specialise in this area. For some IVAs, the year in which they were registered may differ from the date of creditor agreement.
Postcode data are matched against the National Statistics Postcode Lookup, to determine the region and administrative area of each individual. These data are then aggregated to produce counts of insolvencies in each geographical area. The National Statistics Postcode Lookup is derived from data from the Office for National Statistics (ONS) and Ordnance Survey.
Population data for each geographic breakdown is taken from the ONS mid-year population estimates release. Geographical data for joining the insolvency and population statistics together are sourced from the Open Geography Portal. Additionally, population estimates are revised from time to time by the ONS which will lead to to revisions to rates per 10,000 adults.
City of London included in Westminster and Isles of Scilly included in Cornwall due to low population.
- Modified
- 03 Apr 2023
- Data last updated
- 18 Dec 2023
- Short label
- IVAs per 10,000 adults
- Status
- Live
- Output precision
- 1
- Polarity
- a low value is good
- Measure
- Rate per 10,000 Population
- Dataset
- Individual insolvencies
- Source
- The Insolvency Service
- is found in the following lists
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