What happens to your car in an IVA? What if it breaks down? Can you buy a new car during an IVA? What if you are paying for the vehicle on finance?
Key IVA Facts
How is your house protected by an IVA? Is your mortgage written off? Will you have to release home equity? What happens to a jointly owned property?
What happens to your Credit Rating in an IVA? How long is it affected? Which credit facilities can you continue to use? Can you get a mortgage in an IVA?
How much will you have to pay into an IVA? Do you have to prove what you can pay? Will the payments ever change? What if you cannot afford monthly payments?
How much does an IVA cost? How are the costs paid? Do you have to pay anything up front? Does the cost vary between different IVA companies?
Key facts that you should know about an IVA. An IVA is a significant financial commitment. Understand these facts before you apply.
Which debts can you include in an IVA? Which cannot be included? Do you have to add all your unsecured debts? What if you owe Friends or Family money?
How long does an IVA last? Can the length be extended? Can it be reduced by settling the Arrangement early? Is the length affected if you are a home owner?
What if you have a change in your income during an IVA? What if your income goes up? The impact if your income falls. Options if you lose your job.