IVA FAQ

What happens to regular overtime during an IVA? Can you keep one off overtime payments? Will overtime mean the IVA is paid early? What if you get a bonus?

Can forgotten debts be added to an existing IVA? Can you add a brand new debt to the Arrangement? How to find out who you owe money to.

Is it possible to get a Mortgage in an IVA? Could you buy your first property? Can you settle your IVA early by releasing equity? Can you move house?

How to settle an IVA early. How much cash will you require? Can you borrow the money you need? Is it possible to use a windfall to settle an IVA?

Is an IVA available if you are self employed? What if the business has just started? Is the bank account affected? Can you use any credit facilities?

What is an IVA payment break? How are missed payments made up? What if you miss a payment without agreement? Options if your payments are too high.

What is a Windfall? Can the money received by used to pay an IVA early? Can you ever keep any of the cash? When do the IVA Windfall restrictions end?

Why is your IVA living expenses budget important? What are the allowable living expenses amounts? What if you spend more? Can your budget be changed?

Is a standard amount of debt written off in an IVA? How much could you write off? Can the amount change? Will you write off less if you are a home owner?

The criteria for starting an IVA after I have moved abroad. Do you have to return to the UK to apply? Affect on local credit rating