. In fact, if you are in serious amount of unplayable debt, you should really consider an IVA. The problem with unsecured debt, is the amount they increase as a result of the elevated interest rates. This makes them impossible to pay, forcing debtors to work over time just to pay for late payments. It also forces people to use credit cards to pay for every day expenses, creating a vicious cycle of debt. IVA's can break the cycle, allowing you to focus on paying for more import things in life, such as mortgages and general living expenses.