{"id":9950,"date":"2011-01-10T11:59:19","date_gmt":"2011-01-10T11:59:19","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=9950"},"modified":"2019-06-24T12:16:14","modified_gmt":"2019-06-24T11:16:14","slug":"information-needed-for-an-iva","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/information-needed-for-an-iva\/","title":{"rendered":"Information needed for an IVA"},"content":{"rendered":"\n

If you\u2019re considering trying to use an Individual Voluntary \nArrangement, there are a number of things that will happen initially. \nYou will need to consult an Insolvency Practitioner, who will advise \nyou, and who will be responsible for taking the IVA forward.<\/p>\n\n\n\n\n\n\n\n

The first thing that the IP will need to do is have a good look at \nyour finances. They will need to get a sound impression of your overall \nsituation, including income, outgoings, debts and assets. On the basis \nof this they will advise you as to your options, only one of which as an\n IVA.<\/p>\n\n\n\n

\"Debts<\/figure>\n\n\n\n

If you do go ahead with an IVA, it\u2019s imperative that you make sure \nyour IP has the details of all of your debts. The IVA will cover \npersonal unsecured debts that you have, and it\u2019s best if they\u2019re all \nincluded, to give you the best chance of getting things under control.<\/p>\n\n\n\n

You will need to provide various documents and details relating to your finances. Your IP will make sure you understand what\u2019s required, but below is a list of things that are typically going to be needed.<\/p>\n\n\n\n

Income<\/h2>\n\n\n\n

Proof of your income, and your spouse\/ partner if applicable, will be\n required for the IVA proposal. You will need to be able to demonstrate \nthat you can afford to make the monthly IVA payments, and so your income\n will be examined. Generally payslips are used for this purpose.<\/p>\n\n\n\n

Property<\/h2>\n\n\n\n

Details of any mortgaged or owned properties that you may have will \nalso be required. This includes both your home and car. If your home is \nmortgaged, the details of your mortgage will be required, including a \nmortgage statement indicating the amount that is outstanding. A relevant\n valuation for your home may be required. If your car has been financed \nthrough a loan that has not yet been paid off, or a hire purchase, \ndetails of this will also be necessary.<\/p>\n\n\n\n

Endowments<\/h2>\n\n\n\n

You should provide details of any endowment policies that you may have.<\/p>\n\n\n\n

Debts<\/h2>\n\n\n\n

You will need to ensure that you have valid details for each of your \ncreditors, and provide information regarding your accounts with each. \nThis information needs to include what you owe and the creditor\u2019s \nreference number for you. If you have had any solicitor\u2019s letters \nregarding the debts, include these also but make sure you include the \ncreditor\u2019s own correspondence as well.<\/p>\n\n\n\n

Explanations<\/h2>\n\n\n\n

Your IP will also want to know the details of the circumstances that \nhave led to your current difficulties. If there have been events in your\n life that have put strain on your finances, this may make creditors \nmore inclined to accept your IVA proposal, so be sure to include these \nwhere possible.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re considering trying to use an Individual Voluntary Arrangement, there are a number of things that will happen initially. You will need to consult an Insolvency Practitioner, who will advise you, and who will be responsible for taking the IVA forward.<\/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-9950","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\/9950","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=9950"}],"version-history":[{"count":1,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9950\/revisions"}],"predecessor-version":[{"id":9960,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/9950\/revisions\/9960"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=9950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=9950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=9950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}