If you’re interested in getting an IVA (individual voluntary agreement) in place, you’re likely searching the internet for IVA companies to apply through. An IVA is a formal, legally binding agreement for those who are overindebted but don’t wish to file for bankruptcy. IVA companies make it possible for you to strike an agreement with your creditors to pay your debt back over time. While you’re in an IVA, your creditors cannot charge you interest or chase you for payments. While there are some great IVA companies out there, there are several IVA companies to avoid.