If you’re an existing IVA customer you’ll find common help and IVA support queries here. If you’re a new customer we’d recommend visiting our IVA product page.

It normally takes between 4-6 weeks from the acceptance of the IVA for creditors to update your information. Once their records have been updated correspondence should stop. We will provide freepost envelopes and ask that you forward all creditor correspondence to us. We have a dedicated team who answer all queries. They will contact creditors that continue to pursue you and will ensure that any problems are rectified quickly and efficiently. The terms of your IVA mean that all creditors included within the IVA are unable to instigate legal proceedings and/or apply interest and charges.

You may still receive yearly statements or obligatory notices from creditors, as they are legally required to send directly to you.

During the term of the IVA you may receive a windfall. This could be a cash inheritance, inheritance of a property, large bonus payment or redundancy payment.  Your IVA is likely to include a windfall clause requiring you to pay some or all of the money you receive into the IVA. If you receive a windfall you must inform us as soon as possible.

Should your circumstances change considerably during the term of your IVA it is possible for the terms to be amended. In these circumstances the Supervisor may not be able to agree to change the terms of your arrangement without obtaining the agreement of your creditors. This is called a variation.  We will complete a full review of your circumstances to find the  most suitable way forward and, if appropriate, assist you in proposing a variation to your creditors.

Should a variation be the most appropriate solution the Supervisor will arrange a meeting of creditors.

As with your initial meeting of creditors, 75% of voting creditors must vote in favour of the variation for it to be accepted.

Please be aware that should you require a reduction in payments or payment break the term of your IVA may be extended.

An IVA is a formal and legal arrangement which requires agreed monthly contributions. If you miss payments to your IVA without your Supervisor’s permission your IVA may fail.

You may be able to request a break in payments if your circumstances have changed adversely. If you are struggling to make payments then you must contact us as soon as possible so that we can complete a review your current financial situation.

The terms and conditions of IVAs state some elements of redundancy pay are deemed a windfall, and an element would be expected to be paid into the IVA. Typically, you would be allowed to keep the equivalent of six months net salary in order to maintain the cost of living and your IVA payments whilst you seek employment. During this time, you may be asked to provide evidence that you are actively seeking work.  Should you gain employment prior to the six months any remaining redundancy payments would have to be paid into the IVA for the benefit of your creditors.

Your marital status alone has no affect on your IVA. If you are already co-habiting and are simply making it official, then you will need to notify us of a change in name.

If your marriage changes your domestic arrangements e.g. you move house, move into a property together or the household income and expenditure changes, this will be regarded as change in circumstances. You must inform us and we will conduct a full review of your income and expenditure as it may affect  your ability to make IVA payments.

Your IVA proposal is likely to include a provision whereby your Supervisor must be informed of plans to sell the property. If you find yourself in a position where you need to move due to your employment, and need to sell your home, it is possible to allow this and for the provisions around any equity release to be transferred to your new property. The position of your creditors should not be worsened as a result of the move, so the house value and mortgage amount must be comparable.

If you wish to sell your house for any other reason and move into rented accommodation then you will be expected to introduce a proportion of equity into the arrangement.  Once any mortgage or secured loans have been cleared from the proceeds, normally 85% of what is left (your equity) must be made available to pay into the IVA. Should this repay your debts and the IVA fees in full the IVA may reach an early completion.

If the property is jointly owned with someone who is party to an IVA, 50% of the above equitable share will need to be introduced into the arrangement. A key benefit of an IVA is that it prevents the potential forced sale or repossession of your home. So please speak to us for advice if you’re considering selling it or are being forced to sell it.

You must seek permission from the Supervisor before obtaining a vehicle on finance. A full review of your circumstances must take place.

There are specialist lenders and providers who provide loans and finance for people who have been subject to adverse credit effects. While an IVA alone may affect your ability to obtain credit any company looking to lend money will also take other factors in to consideration.

Yes. Creditors may accept a lump sum to bring the arrangement to an early conclusion if you can show that you are paying as much as you can afford. We have a dedicated full and final settlements team that can negotiate on your behalf and have successfully helped to increase the amount of debt that is written off.

If you incurred debts prior to the approval of your IVA that were not included in the proposal it may be possible to include them within the arrangement, dependent on a number of factors. Please contact us as soon as possible, should you become aware of any additional debts. If you have accumulated debts after your IVA was approved then you are liable to repay this outside of your IVA in full. It may also be a breach of the terms of your arrangement.

Yes, you can cancel the IVA, however creditors may then commence alternative recovery action such as bankruptcy. An IVA is a legal process. Once it is set up it cannot be cancelled simply because you have changed your mind. However, if your circumstances change and you can no longer afford the repayments then your IVA may be terminated. Should the IVA be terminated creditors may backdate interest to the approval date of the IVA.

We have dedicated staff who will deal with the closure of your IVA at the end of its term, issuing a final report to your creditors and sending a Certificate of Completion. You may then send this to the credit reference agencies as evidence that you have successfully completed your IVA.

General Enquiries

Please complete the form below and we’ll get in touch.

By submitting your details you are accepting our privacy policy

Get the right advice for you


No matter how big or small your problems may seem – we would always recommend that you look for professional advice, even if it’s not through us, before any financial issues start to cause sleepless nights. Read more…

Refer a friend


Know someone who may benefit from speaking to us?  If you refer a friend, who later becomes a paying customer, you’ll receive £100 worth of Tesco vouchers to spend. Read more…