{"id":11422,"date":"2011-02-16T09:13:26","date_gmt":"2011-02-16T09:13:26","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=11422"},"modified":"2019-08-16T09:16:18","modified_gmt":"2019-08-16T08:16:18","slug":"what-debts-can-go-in-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/what-debts-can-go-in-an-iva\/","title":{"rendered":"What debts can go in an IVA?"},"content":{"rendered":"\n<p>Individual Voluntary Arrangements are for individuals who have \nunsecured debt that they can no longer manage. If you\u2019re struggling with\n debts such as credit cards or unsecured loans, then an IVA may be used \nto help you avoid bankruptcy.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Typically, IVAs are used for people with multiple debts, owed to 3 or\n more different lenders. The debts covered by an IVA are normally \nexpected to total at least around \u00a315,000.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"424\" height=\"283\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/08\/Fotolia_139425665_XS.jpg\" alt=\"Multiple Debts\" class=\"wp-image-11427\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/08\/Fotolia_139425665_XS.jpg 424w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/08\/Fotolia_139425665_XS-300x200.jpg 300w\" sizes=\"auto, (max-width: 424px) 100vw, 424px\" \/><\/figure>\n\n\n\n<p>Whether an IVA may be used for your own personal debts is something \nyou can really only establish with the help of an Insolvency \nPractitioner. Everyone\u2019s situation is slightly different, but an IP can \nhave a look at your overall finances and give you an indication of what \nchoices are going to work for you. It may indeed be the case that an IVA\n is going to help you, in which case your IP will draw up a proposal and\n put it to your creditors.<\/p>\n\n\n\n<p>If you do decide to go ahead with an IVA for your unsecured debts, \nyour IP will guide you through the legal processes involved. Providing \nenough of your creditors accept the proposal, it will go ahead. Once the\n IVA period has elapsed and you have met your side of the contract by \ncontinuing to make your payments, your debts will be settled.<\/p>\n\n\n\n<p>If you have a mixture of debts, both secured and unsecured, you may \nalso be able to use an IVA for the unsecured portion of your borrowing. \nThis can ease the pressure on your outgoings in general, helping you to \nget the situation under control.<\/p>\n\n\n\n<p>Once an IVA is complete, you will be able to start working on \nimproving your credit rating again. While the IVA is in process, you \ncannot get any borrowing, but once it is over you will be free to seek \ncredit again.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Individual Voluntary Arrangements are for individuals who have  unsecured debt that they can no longer manage.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-11422","post","type-post","status-publish","format-standard","hentry","category-iva-articles"],"_links":{"self":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/11422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/comments?post=11422"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/11422\/revisions"}],"predecessor-version":[{"id":11428,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/11422\/revisions\/11428"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=11422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=11422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=11422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}