IVA takes into account many aspects about individual debtors, creditors’ policies, and also prevailing financial conditions of the state as a whole when drafting an IVA proposal. IVA proposals are designed in such a way that they should not be rejected by the creditors involved in the situation. If IVA feels that the lenders would reject the proposal made by IVA, the proposal or application from the individual will not be accepted by IVA itself. IVA will offer you a means out of the debt trap if and only if it is confident the lenders will accept the proposal.
The success rate of IVA is very high. It is very unlikely you will be accepted by IVA and then fail to be able to successfully arrive at an agreement with creditors. It is necessary for your proposal to be approved by more than 75% of the creditors to whom you owe money. If more than 25% reject the proposal put forward by IVA, then there would not be any way for you to take advantage of this program. It all depends on how much you owe to creditors, their willingness to work with you, and your ability to make timely repayments for a term of as long as 60 months.