IVA Advice
Individual Voluntary Arrangements
Can I get an IVA ?
In order to apply for an IVA you must meet the following criteria:
- You must be resident in England, Wales or Northern Ireland
- You must have debts over £15000 in the UK
- You must have a regular income, be able to pay back at least £200 per month and still be able to afford living expenses
- You must be having difficulties repaying your debts and/or your debts must be worth more than the equity in your home
In addition to the criteria above you must have a positive attitude towards the repayment, your Insolvency Practitioner will have a greater chance of securing approval for your IVA application if you are honest about your situation and positive toward repayment.
If you meet this criteria then you can apply for an IVA by submitting an application to an Insolvency Practitioner.