IVA FAQ

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?

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?

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?

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?

The Law governing the IVA debt solution. What are the legal criteria for starting an IVA? The introduction of the IVA Protocol.

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?

What happens to your house if you start an IVA? Will you have to release equity? What if you cannot remortgage? Effect on a jointly owned property.

The debts that can be included in an IVA. Is it possible to include money owed to HMRC? Which debts cannot be included. Can you choose to keep a debt out?

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

Your circumstances can change during an IVA. What happens to your payments if your income improves or falls? What if your expenses go up or down?