We cannot conclude that an IVA and a trust deed are entirely different. Both are debt management solutions. The fundamental difference lies in the availability of the debt solution. An IVA is only applicable for people living in Northern Ireland, Wales, and England, whereas a Trust Deed is applicable for individuals residing in Scotland.  While the minimum debt level to get an IVA is £10,000, a trust deed is more than £5,000. The general length of an IVA is 60 months, while that of a trust deed is not more than 48 months. So, you see, while the eligibility criteria differ by slights numbers, both provide the same insolvency benefit to the debtor.