What are the requirements for an IVA?
In order for an IVA to be feasible, there are some minimum requirements that must be met.
The requirements for an IVA are:
- At least £15,000 of unsecured debt
- At least £200 a month available for payment into the IVA
- You must have three or more debts to different institutions.
- You should have a regular income
The purpose of an IVA assessment is to find out if an IVA is a suitable debt solution.
The UK Insolvency Helpline receives thousands of phone calls and emails each week from people needing advice. Here you'll find the answers to our most frequently asked questions.
Click on one of the links below to get quick answers to the general questions on debt, IVAs (Individual Voluntary Arrangements), and bankruptcy that we get regularly get asked.
If you have questions that aren't covered here, you can give us a call. Advisers on our confidential free-call helpline can answer any general questions you have, as well as more specific questions about your particular debt problems.
Useful resources:
The UK Insolvency Helpline
Address: The UK Insolvency Helpline, National Administration Centre, 788-790 Finchley Road, London, NW11 7TJ
Contact By:
Freephone: 0800 074 6918
Website: http://www.insolvencyhelpline.co.uk
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