Bankruptcy or IVA – which one is better?

You may be wondering which debt solution is better – bankruptcy, or an IVA (Individual Voluntary Arrangement). Well, the truth is, neither debt solution is ‘better’ than the other. They are both designed to do the same thing – help people get out of debt – but they do it in...

What debts can/can’t be included on an IVA?

If you are eligible for an IVA, you may be wondering which of your debts can actually be included on the agreement. Here, we will take a brief look at some of the debts that can and can’t be included on an IVA. Debts that can be included: Debts accrued through the following means of borrowing can be...

Credit check on an IVA

If you are on an IVA (Individual Voluntary Arrangement), and are looking to borrow some money, you’ll need to contact your IP (Insolvency Practitioner). Your IP is the professional who oversees your IVA and they’ll need to give their permission before you can apply for credit while your IVA is in...

What is an ‘adverse credit IVA remortgage’?

If you have been on an IVA (Individual Voluntary Arrangement) and completed it recently, you may be looking to remortgage. As you may well be aware, your IVA will still be on your credit rating, and will stay there for one year after successful conclusion of the agreement (assuming it was a five-year...

Credit check during an IVA

If you are part-way through your IVA (Individual Voluntary Arrangement), and you realise that you are going to need to borrow some money, the question may spring to mind – will lenders conduct a credit check during an IVA? First of all, it’s important to note that if you’re on an IVA, you...

Can you still use a credit card on an IVA?

If you are on an IVA (Individual Voluntary Arrangement), and are finding it difficult to pay for your expenses using cash/debit cards, the question may spring to mind – ‘can you still use a credit card on an IVA?’ Well, the answer to this isn’t really as clear as you may...

IVA UK

If you are finding your debts difficult to manage and you don’t think you’ll ever be able to repay them – an IVA (Individual Voluntary Arrangement) may be right for you. You may have heard / seen the phrase ‘IVA UK’ – which basically means ‘IVA in the UK’. IVAs...

Would an IVA be appropriate for me if I’m unemployed?

If you are struggling with an unmanageable level of unsecured debt that you can’t see yourself repaying within a reasonable period of time, you’ll want to find a solution to this – a way of clearing your debts so you can get on with your life. In this situation, many people may...

IVA variations – what are they?

An Individual Voluntary Arrangement (IVA) is a formal financial agreement designed to help you get out of debt – usually in 5 years (although this may vary depending on the terms of the agreement, and whether you miss any payments throughout its duration). An IVA could be suitable for you if you have a...

IVA or Debt Management Plan

If your debts have become unmanageable and you are finding it difficult to regain control of your finances, then a professional debt management plan or an IVA (Individual Voluntary Arrangement) might be appropriate – but which one? Debt management plans and IVAs could help individuals: 1.    Lower...