Debt Tick List
Benefit Over Payments
Council Tax Debt
County Court Judgements
Not Viable Debts
High Court Writs
Will My Home Be Protected?
Your Home will be protected while you are paying your IVA, but they will take into account if there is any equity in your property and you may be asked to try and release equity to pay off Debt.
How Long Does IVA Take To Set up & Pay Off
To get accepted for IVA agreement it can normally take 4-8 weeks to get set up, within this period your creditors can not take any further action for example, Charging Orders, Bailiff action.
IVA last for 5 years, if you have property with equity it can go upto 6 years
Can Creditors Still Chase Me?
Once you have been accepted for IVA agreement, They can not contact you or pester you with letters. They will have to go through your Insolvency Practioner.
Will IVA Affect My Job & Will People Know I'm on IVA?
IVA will most unlikely affect your job, but if you are in a position of power and finances always check your employment contract, your details will be entered onto a insolvency register but people would have to search for it.
For more iva faqs and iva info speak to one our iva experts who can take you through the iva criteria.