What Is an Insolvency Practitioner? Nominee and Supervisor Explained

What Is an Insolvency Practitioner?

A licensed professional who sets up and runs IVAs and other insolvency procedures. Only an insolvency practitioner can act as your IVA nominee and supervisor.

Last updated: November 2026

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Things to know about IVAs

An IVA is a formal insolvency procedure. It must be approved by your creditors, stays on your credit file for six years, fees are taken from your payments, and debts are only written off if you complete it. It isn’t right for everyone.

Read the key risks

Creditors must approve it. An IVA only goes ahead if creditors holding at least 75% of the debt that is voted agree. Your proposal can be rejected.
Credit file and public register. An IVA stays on your credit file for six years from the start date and is listed on the public Individual Insolvency Register while it runs. Getting credit will be harder.
Spending restrictions and annual reviews. You live on an agreed budget for the length of the IVA (usually 5–6 years). Your income and spending are reviewed each year, and your payment can go up.
Fees. Fees are taken from your monthly payments, so less of what you pay reaches your creditors. How IVA fees work.
Your home. Under the current IVA Protocol, your home isn’t included in the IVA and you won’t be asked to remortgage. If your share of the equity is £10,000 or more, the IVA usually lasts six years instead of five.
If it fails. If you can’t keep up payments the IVA may fail, you would owe the remaining debt again, and the supervisor may petition for your bankruptcy.
Write-off only on completion. Remaining qualifying unsecured debts are only written off if the IVA is completed successfully. Secured debts, court fines, child maintenance, student loans and some other debts can’t be included.
Other options may suit you better. A debt management plan, DRO or bankruptcy may be more suitable. IVAs are available in England, Wales and Northern Ireland only; different solutions apply in Scotland.

Every IVA must be set up and supervised by a licensed insolvency practitioner, often shortened to IP. They act as a go-between for you and your creditors, and have legal duties to both.

The short answer

Insolvency practitioners are licensed by a recognised professional body.
Before approval, the IP acts as your nominee, preparing the proposal.
After approval, they become your supervisor, running the IVA.
They must act fairly towards both you and your creditors.
You can check an IP’s licence and make a complaint if needed.

What does a nominee do?

As nominee, the IP checks your finances, prepares your proposal and reports to creditors and the court on whether the IVA is fair and likely to work. They then put it to creditors for a decision.

What does a supervisor do?

Once the IVA is approved, the IP becomes supervisor. They collect your payments, pay dividends to creditors, carry out annual reviews and deal with any changes, such as payment breaks or variations. At the end, they issue your completion certificate.

How are insolvency practitioners regulated?

IPs are licensed by a recognised professional body, such as the Insolvency Practitioners Association (IPA) or the Institute of Chartered Accountants in England and Wales (ICAEW). The Insolvency Service oversees these bodies. Complaints about an IP can be made through the Insolvency Service’s complaints gateway on GOV.UK.

How do I choose an IVA company?

Check who the licensed IP is, how fees work and what’s included. Our guide on how to choose an IVA company lists the questions to ask.

Common questions

Is an insolvency practitioner on my side?

They have duties to both you and your creditors. They must propose an IVA that is fair and workable for everyone.

How are insolvency practitioners paid in an IVA?

Through the nominee’s and supervisor’s fees, which are taken from your IVA payments. See how much an IVA costs.

How do I complain about my insolvency practitioner?

Raise it with the firm first. If you’re not satisfied, use the Insolvency Service’s complaints gateway on GOV.UK.

How IVA Advice Online can help

Every situation is different, and an IVA isn’t right for everyone. We can look at your income, spending and debts with you and set out the debt solutions you could qualify for, including options other than an IVA. To talk it through, get in touch.