{"id":3188,"date":"2014-01-17T12:14:47","date_gmt":"2014-01-17T12:14:47","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=3188"},"modified":"2019-02-28T12:29:13","modified_gmt":"2019-02-28T12:29:13","slug":"can-i-do-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/can-i-do-an-iva\/","title":{"rendered":"Can I do an IVA?"},"content":{"rendered":"\n<p>Whether or not an <strong>IVA<\/strong> (Individual Voluntary  Arrangement) is something that will be either available to or suitable  for you really depends on your own particular circumstances. The best  way to work out what your options are is to discuss your case with an  Insolvency Practitioner.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>There are few real r<strong>estrictions on IVAs<\/strong>, for \nexample, there is no maximum or minimum amount of debt that must be \ninvolved for an IVA. Similarly, there is no restriction on the amounts \nof repayments that you propose as part of an IVA. The basic idea behind \nthe IVA is that it is an agreement that you are able to keep to. This \nmeans that it should only commit you to paying back what you can \nrealistically manage to pay.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"848\" height=\"566\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_124074043_S.jpg\" alt=\"Do an IVA\" class=\"wp-image-3189\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_124074043_S.jpg 848w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_124074043_S-300x200.jpg 300w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_124074043_S-768x513.jpg 768w\" sizes=\"auto, (max-width: 848px) 100vw, 848px\" \/><\/figure><\/div>\n\n\n\n<p>Ultimately, it is up to your creditors to decide whether or not to \nagree to an IVA for your debts. Your Insolvency Practitioner will put \nthe proposal to them via the courts and they will then meet to discuss \nwhether or not to accept it. Although they will naturally receive less \nthan what you\u2019re currently committed to in terms of repayments, the \nchances are that they will recoup more of the debt than if you end up \nbecoming bankrupt. For this reason creditors are often inclined to \naccept an IVA.<\/p>\n\n\n\n<p>An IVA is not a way to avoid <strong><a href=\"https:\/\/www.nationaldebtrelief.co.uk\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">paying back your debts<\/a><\/strong>,  although in some cases parts of the debts may indeed be written off. It  is really a way to manage paying the debt back over time, and allows  you to get back on top of the debts rather than them continue to spiral  out of control.<\/p>\n\n\n\n<p>The usefulness of IVAs will of course vary in different cases. \nSeeking the advice of a licensed Insolvency Practitioner is the best way\n to work out whether an IVA is something that you should explore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether or not an IVA (Individual Voluntary Arrangement) is something that will be either available to or suitable for you really depends on your own particular circumstances. <\/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-3188","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\/3188","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=3188"}],"version-history":[{"count":3,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3188\/revisions"}],"predecessor-version":[{"id":3192,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/3188\/revisions\/3192"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=3188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=3188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=3188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}