IVA Implications 

 

As an Individual Voluntary Arrangement (IVA) is a legally binding procedure, we believe that our clients are fully aware of any implications attached to an IVA.

Please take the time to read our list below, and for free advice please call our advisors on 0808 131 9101. Alternatively fill in our Quick Enquiry form and we will call you back.

IVA Implications:

  • You must have more than £15,000 of unsecured debt.
  • You have to make the agreed monthly payment or your creditors will start bankruptcy proceedings against you.
  • At least 75% of your creditors, in terms of debt value, must agree to your IVA proposal.
  • Your IVA will last for 5 years.
  • You may be asked to re-mortgage your home to release a proportion of your equity.


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Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)
Name
Home Telephone
Mobile Telephone
Email address
Level Of Debt
Number Of Creditors
Monthly Income
Homeowner?

House Value
Mortgage Owed

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