based contributions for a longer period in lieu of the debtor's equitable interest in the property. The supervisor may register a restriction on the property to ensure that his or her consent is required before the property is, for example, sold or re-mortgaged. Failure If an IVA fails because an individual can not keep up with the repayments (or agree new terms with the trustee and creditors), then bankruptcy becomes a real possibility. Because a significant proportion of IVA repayments go towards payment of the nominee's and supervisor's fees, people who have failed an IVA often find they had not paid as much of the debt off as they had expected. Additionally, creditors will also add on interest and charges to the debts from the meeting of creditors date to the date of failure (currently 8% per annum), thereby increasing the level of debt. Roles of the insolvency practitioner An IVA can only be administered by a licensed insolvency practitioner. At each stage of the IVA process, the insolvency practitioner's role changes. Adviser The adviser does not have to be an insolvency practitioner, though often is. The adviser should inform the debtor of all the solutions available, commonly including dealing with priority debts first, re-mortgage, consolidating debts into a loan, debt management, bankruptcy, a Debt Relief Order, and IVA. The adviser should look at all the debtor's circumstances, what they own, what they owe, and their household income & expenditure to advise the best solution. The adviser may charge for debt advice, however most IVA providers will offer advice without any upfront cost. Charitable debt advice agencies include Citizens Advice Bureau, StepChange Debt Charity, and Christians Against Poverty who may suggest debt management measures that do not involve an IVA. Nominee If an IVA is considered appropriate, the insolvency practitioner will become the nominee. There is a misapprehension that it is the nominee's role to advise the debtor on drafting a proposal to the creditors. This is not the case. The legislation is clear that this is the task of the debtor and his or her advisers, which nevertheless may be the nominee's firm. It is instead the nominee's task to review the proposal on which he has been asked to act, and to report on it. In practice, the proposal is generally a standard document which is modified to the each debtor's particular circumstance. Common terms will include: An