Individual Voluntary Arrangement Frequently Asked Questions

Can you go on Holiday during an IVA

Are you allowed to go on holiday during an IVA? What options do you have to pay for the holiday? Can a holiday be funded with a Payment Break?

What Paperwork is required to start an IVA?

The paperwork required for an IVA. Do you need a written home valuation? Does your partner have to provide any paperwork?

How long does an IVA last

How long does a standard IVA last? Can the length increase? Is it paid faster if you pay more? Can the agreement be settled early?

Can you save during an IVA

How much are you allowed to save during an IVA? How to save during the Arrangement. Is it better to increase your IVA payment?

What happens to my Bank Account in an IVA

What happens to your bank account in an IVA? Should you open a new one? What kind should you open? Should you pay for a Managed Account?

Can you stop your IVA if you are Unhappy?

How to stop your IVA. What happens to the payments you have already made? Implications if you are a home owner

How much will my IVA Payments be

How much do you have to pay into an IVA? What is the minimum you can pay? Are your IVA payments fixed?

Can you Leave Debt Out of an IVA

Do all your debts have to be included in an IVA? Is it ever possible to leave debts out? If you owe money to family can this be left out?

What is an IVA Completion Certificate?

Why is an IVA Completion Certificate important? When should it be issued? What can you do if your Certificate has not been received.