Individual Voluntary Arrangement saysYour post is really impressive but it is not enough to describe IVA and Debt management. It has huge values generally an IVA is a contractual arrangement with creditors and can be as flexible as an individual’s own circumstances; they can therefore be based on capital, income, third party payments or a combination of these.
In this process, a debtor who has enough money left over after priority creditors and essential expenses, may be able to arrange an individual voluntary arrangement.(After taking independent advice, debtors with less serious problems may wish to consider a debt management plan).
“Debt Management” is a process to deal with, or ‘manage’ existing debt by paying it off, and also not incurring any new debts in the process. Your goal in “managing” your debt should be to gradually reduce, and eventually eliminate it.
There are a number of ways which you can manage your debts. For example a Debt Management Plan is an informal agreement between unsecured creditors and the debtor. A Debt Management Company will arrange a reduced monthly payment.
An IVA is like a Debt Management Plan but it is a formalised agreement which allows a certain level of debt write off. The exact amount of debt which can be written off is dependant on the circumstances of the individual. Not everyone is eligible to manage debt through an IVA, so it is important that expert debt advice is sough.
Shamsul 
Gemma 