If you are a homeowner with equity in your property you may be required to introduce part of your share of this equity in the final year of the arrangement.A remortgage may be restricted and on less favourable terms. If for some reason you can’t get a remortgage your arrangement can be extended for up to another year.
	If your circumstances change, and your insolvency practitioner can’t get creditors to accept amended terms, the IVA is likely to fail. You will still owe your creditors the full amount of what you owed them at the start, less whatever has been paid to them under your IVA.
	If your IVA fails, your creditors may request that you be made bankrupt. This will always be discussed before your arrangement commences
	Your credit rating may be impacted for up to six years from the commencement of your IVA.