BCT and PayPlan have worked in partnership for several years to support service-users accessing support for gambling-related harms who are also experiencing financial difficulties as a result of gambling. This partnership has been instrumental in allowing us to support service users not just with the mental and emotional impacts of gambling harms, but also the practical issues that very often come with it.
There have been some important changes made recently to the IVA protocols which may impact those who access our service for support, which we felt necessary to highlight in this month’s news item.
Understanding the 2025 IVA Protocol changes
The updated Individual Voluntary Arrangement (IVA) Protocol 2025 is now in effect – bringing in meaningful updates to improve outcomes and protect individuals entering into IVAs.
These Protocol changes strengthen and support the approach already taken at PayPlan, always making sure they only recommend IVAs when they’re a suitable fit.
What is an IVA?
An IVA is a legally binding agreement that helps you repay your unsecured debts through affordable monthly payments over an agreed period – usually five or six years. Once your IVA ends, any remaining unsecured debt included is written off.
As with all IVAs, there are fees involved, but these are included in your monthly payments and are clearly explained before you decide to go ahead.
Click here to find out more about IVAs and whether they could be right for you.
What is the IVA Protocol?
The IVA Protocol is a set of agreed industry standards that ensure IVAs are handled fairly, transparently and consistently – with your best interests at heart.
It’s an agreement between IVA providers (such as PayPlan Partnership Limited and PayPlan Bespoke Solutions Limited) and creditors. At PayPlan, their IVAs follow the protocol guidance, giving you confidence that your case will be handled with care and clarity from the start.
What’s new in the 2025 IVA Protocol?
The updated IVA Protocol introduces several key improvements – many of which reflect the high standards we already follow:
- Signposting to better-suited solutions – If your debt level is low, the Protocol now reinforces something PayPlan have always done – which is making sure you’re pointed to more suitable options. They never recommend an IVA to anyone unless it’s the right fit.
- Greater protection for homeowners – Under the new rules, in a protocol IVA your home is no longer considered an asset to be used toward repaying debts. Instead, the amount of equity in your home will guide how long your IVA lasts – offering more security and predictability.
- More flexibility when life changes – If your circumstances change during your IVA, your Supervisor could approve payment holidays or reductions without needing to go back to your creditors. Payments can now be reduced up to 20 % instead of 15 % without needing a meeting, helping your plan adapt to real life more easily.
- Improved guidance if your IVA ends early – If your IVA needs to close sooner than planned, the new rules ensure you get your completion or termination certificate more quickly, alongside clear guidance and access to free, regulated debt advice.
New rules around home equity
If you’re a homeowner, here’s how the new equity rules work:
- If your share of equity is under £10,000 (based on 85 % of your property’s value), your IVA will last five years – with no need to release equity and no extension.
- If your share of equity is £10,000 or more, your IVA will usually last six years, which replaces the need to remortgage or release funds from your home.
What is equity?
Equity is the current market value of your home minus any outstanding mortgage and any other secured loans. If the property is jointly owned, your share is calculated proportionally.
PayPlan’s commitment to you
PayPlan are proud to lead with integrity and care. They:
- Only recommend IVAs when they’re genuinely the right option
- Support vulnerable clients with tailored guidance and extra care
- Clearly explain fees – which are included in your monthly payment and never hidden
- Make sure you understand the full picture – including the impact on your credit file and all your available options
They also provide a full breakdown of the pros, cons and alternatives before you make any decision.
What if an IVA isn’t right for me?
If you’re unsure about an IVA or want to explore all your options, PayPlan can talk you through:
- Debt Management Plans (DMPs)
- Debt Relief Orders (DROs)
- Bankruptcy
- Repayment Arrangement
- Debt Settlement
- Sequestration (only for those who live in Scotland)
- Debt Arrangement Scheme (DAS) (only for those who live in Scotland)
- Minimal Asset Process (MAP) (only for those who live in Scotland)
- Trust Deed (only for those who live in Scotland)
Their goal is to help you make the most informed and confident decision for your situation.
Speak to PayPlan – no pressure, just support
If you are struggling with debts, call 0800 072 1206. They’re open from 8 am – 8 pm Monday to Friday and 9 am – 3 pm on Saturdays.
Alternatively, you can visit www.payplan.com/beacon-counselling-trust to speak via live chat or for more information.
If you are struggling with gambling-related harms and would like more information on how to get support, or would like a facilitated referral into PayPlan as a result of gambling-related debts, call BCT on 0151 226 0696 or email treatmentteam@beaconcounsellingtrust.co.uk.