The Insolvency Act 1986 is a legislated law and practice that went into place in the United Kingdom in 1986 regarding debt solutions for UK citizens.

There are many relevant statues and instruments that are also relevant besides the Insolvency Act.

Insolvency Practitioners (or IPs) are the people that deal mostly in the information involved in the act. IPs are specialists with Individual Voluntary Arrangements. This debt solution allows UK residents to avoid bankruptcy. Insolvency Practitioner play a big role in the IVA: they are the first ones to draft up the proposal to creditors and they also follow the debtor along the process. This is to ensure the debtor makes the proper monthly payments.