Car finance in an IVA

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Can you keep your Car if you start an IVA? Yes you can, so long as the vehicle is not extravagant and you can show you need it. The running costs will be included in your Living Expenses Budget. When completing this budget you will need to include amounts to cover things like annual servicing […]

Renegotiating an IVA

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Renegotiating an IVA may be possible, but you will need to work out your new outgoings and then submit a revised income and expenditure account to your IP for them to review. If the reduction is significant, they may need to apply for a variation meeting for creditors to formally agree the amendment. Speak with […]

Bankrupty Vs IVA

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Credit-rating agencies do not make much distinction between an IVA and a bankruptcy case. One of the biggest set backs with bankruptcy is that you may lose your assets – including your house – but the IVA process is different. You may have to give up some of the equity in your house, but you […]

Joint (interlocking) IVA’s

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If an individual has a financial connection to another person – for example their spouse, child or civil partner – it may be possible for them to propose what are known as interlocking IVAs to deal with their debts together. Whilst interlocking IVAs consist of two separate proposals – one for each person – they […]

IVA Repayment Calculator

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Calculating how much you IVA monthly payments will be is difficult if not impossible until you have given your insolvency practitioner a detailed budget of your expenditure and your debts. If your creditors agree to an IVA, you will be allowed you to live a ‘reasonable’ life. Use the form below to see how an […]