IVA Debt - Which Debts Can Be Included in an IVA?
IVA Debt - Which Debts Can be Included in an IVA?
We could write off up to 85% of your unaffordable debt
Table of Contents
What Debts Can Be Included in an IVA?
Many kinds of debts can be included in an IVA. It is important to realise that this is not limited to borrowings to finance companies but can also include HMRC debts, Council Tax debts and even debts to friends or family. It is, however limited to unsecured debts, so any debt secured against a property or vehicle, for example, would not be allowed to be included. Below is a list of debts that can be included when you apply for an IVA.
The following debts can be included:
Debts relating to overpayments of benefits or tax credits
Debts to friends or family
The following debts cannot be included:
Hire Purchase Debt, although it could be included if you no longer have the item you purchased.
Court Fines
TV licence Debt
Child Support Arrears
IVA Guides and Information
What Is An IVA?
An IVA can be a great, positive way to help with your debt. Allowing you to continue living your life without the stress of being chased by your creditors. Click to find out more about what an IVA is.
Is An IVA Right For You?
Whether an IVA (Individual Voluntary Arrangement) is right for you or not will largely depend on your personal situation e.g. debt level, number of creditors, affordability etc. Click to find out more.
How Does An IVA Work?
An Individual Voluntary Arrangement (IVA) is a debt solution where you agree with your creditors to pay all or part of your debts. When it is completed, any remaining debts are written off. Take a look at our article to find out more.
Which Debts Can Be Included In An IVA?
Many kinds of debts can be included in an IVA. IVAs are limited to unsecured debts but by solving your unsecured debt problems, you may find paying any secured debt much easier.
How Do I Apply For An IVA?
Applying for an IVA (Indivudual Voluntary Arranagement) is a fairly straightforward process. Click the button below and a member of our team will contact you and guide you through the process.
What Are The Pros & Cons Of An IVA?
As with many things in life, there are benefits and consequences we need to consider. Take a look at our Pros and Cons article to find out whether an IVA is right for you
Does An IVA Have Fees?
Setting up an IVA does incur some costs; however, you will not be expected to pay anything up front at the beginning of the arrangement and there will be no surprise costs at the end of the arrangement.
IVA FAQs
Are IVAs Worth It?
When looking into how an IVA works, there are some features that do appear to be too good to be true, so it is understandable that some people are extremely cautious and even cynical when thinking about whether to proceed.
Is an IVA a Bad Idea?
Whether an IVA is a good or bad idea is largely dependent on your financial circumstances. Of course, every debt solution is going to have its advantages and disadvantages. These need to be considered and weighed up so that you can make an informed choice.
Do You Lose Assets With An IVA?
Assets are the things you own, whether that’s a house, car or electronic equipment. Many people, when entering any debt solution, are often concerned about how much they will lose and to which extent their lives will be altered. Read on to find out more about how an IVA might impact on your assets.