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The IVA Protocol

What is the IVA Protocol. Updates to the Individual Voluntary Arrangement (IVA) Protocol since 2008.

Can I start an IVA for just £100 a month?

An IVA can now be started based on payments of £100 a month. Why will creditors agree? Is a £100 IVA better then DMP? Would Bankruptcy be a better option?

What happens to my Bank Account in an IVA?

What will happen to your Bank Account in an IVA? Should you open a new account and when? What kind should you open? Should you pay for a Managed Account?

Is starting a DMP before an IVA a good idea?

You do not have to use a DMP before starting an IVA. When is it best to start a DMP first? Are there any downsides of starting DMP before an IVA?

How can I afford to start an IVA?

What can do to be able to afford an IVA? Tips for reducing your living expenses. Do you have an HP agreement? Can you start an IVA without monthly payments?

Will my Creditors Accept an IVA?

Why will Creditors accept your IVA? Do they all have to agree? When do Debt Collection actions stop? What if your IVA is not accepted?

What does an Insolvency Practitioner do?

What is an Insolvency Practitioner? How to find the right one to help you with an IVA. What responsibilities does your Insolvency Practitioner (IP) have?

What happens to Overtime during an IVA?

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?

What happens if my IVA is Rejected?

Why would an IVA be rejected? If this happens will you be forced to go Bankrupt? Can you make a different IVA Proposal? What are the alternative options?