R3 report on volume IVA providers September 2018

The sustainability of rising consumer debt is of increasing economic and political concern in the UK, with levels of certain types of consumer credit increasing by 10% from 2016 to 20171 . With the advent of new ways to access credit from unsecured lenders, such as payday loans, and a regulatory system which is under constant pressure to keep up with a rapidly evolving market, the personal insolvency landscape has had to adapt to assist those who end up being unable to pay their debts.