IVA FAQ

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?

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?

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?

What is a Joint IVA. Do both partner’s creditors have to agree? Is a Joint IVA always right for a couple? What if you split up during the Arrangement?

Can a Company Director start an IVA? What if you are a sole trader? Will you be able to maintain your business bank account?

Can you keep your Car if you start an IVA? What happens if it is on HP or a Lease Agreement? When can you include car finance debt in an IVA?

Is your Pension at risk if you start an IVA? Can you still pay into it? What happens to income you already get? Settling an IVA early with your pension.

Can you apply for another IVA if your first is rejected? What alternative options can you consider? Will you be forced to go bankrupt?