IVA FAQ

Can you keep overtime payments earned during an IVA? Does overtime mean your IVA will be paid off 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 an option if you are self employed? What if the business has just started? Is the bank account affected? Can you still use credit?

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?

Is a standard percentage of debt written off in an IVA? How much will you write off? Can the amount change? What if you’re 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