IVA FAQ

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?

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

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

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

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

Can you be forced to make a PPI claim during an IVA? What happens to any compensation paid? Is the compensation yours after your IVA is completed?

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

What happens to your house in an IVA? Will you have to release equity? What if you can’t remortgage? The affect on a jointly owned property.