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Your debts
The amount you owe, the types of debt involved and the creditors you owe money to all need to be understood.
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IVA SUITABILITY
Could an IVA be suitable for you?
There isn't one simple number or question that determines whether an IVA is right for someone. Your debts are important, but they are only one part of the picture.
Check my circumstances Takes around 2 minutes
Who might an IVA be suitable for?
An IVA may be an option for someone in England or Wales who cannot repay their qualifying unsecured debts as originally agreed but can make realistic contributions or offer other funds under a formal arrangement. Suitability depends on their complete circumstances, the likely outcome for creditors and how an IVA compares with other available solutions. It is not appropriate for everyone.
SUITABILITY MATTERS
Suitability is different from simply meeting basic criteria.
Someone may have the type and level of debt that means an IVA could be considered, but that does not automatically mean an IVA is the right solution for their circumstances.
THE FULL PICTURE
What can affect whether an IVA is suitable?
These are some of the areas that need to be considered before an informed view can be reached.
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Your income
Your income and how reliable it is can affect whether an IVA is realistic and sustainable for you.
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Your household expenditure
You still need enough money for reasonable household and living costs. Affordability is about what is realistically left after these expenses.
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Your assets
Property, savings, vehicles and other assets may be relevant when considering an IVA and the alternatives available.
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Your personal circumstances
Employment, family circumstances and likely future changes can all affect which debt solution is appropriate.
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The alternatives
An IVA should be considered alongside other realistic ways of dealing with your debts rather than being looked at in isolation.
NO INSTANT PROMISES
Why don't we tell you that you “qualify” after a few clicks?
Because a few online questions cannot establish whether an IVA is genuinely appropriate for you.
Our short suitability check gives our team some useful initial information about your circumstances. It is not an IVA recommendation, approval or a substitute for properly considering your financial position and the alternatives available.
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The aim is to understand your circumstances first, rather than trying to fit everybody into the same solution.
COMMON QUESTIONS
Questions about IVA suitability
These are general answers, not an assessment of your own circumstances.
How much debt do I need for an IVA?
There is no single debt amount that makes an IVA suitable for everyone. The amount and type of debt, your creditors, your ability to make affordable contributions and the alternatives available all matter. Some providers may apply their own minimum criteria, but these are not a substitute for an individual assessment.
Can I get an IVA if I am unemployed or self-employed?
Employment status alone does not determine suitability. What matters is whether your income or other available funds can support a realistic proposal and whether an IVA is preferable to the alternatives. Irregular or uncertain income needs particular care.
Can I have an IVA if I own my home?
Homeowners may be able to enter an IVA, but property ownership and available equity can affect the proposal and the obligations involved. It is important to understand any property-related terms before agreeing to an arrangement.
Does completing the online check mean I have been accepted for an IVA?
No. The short check collects initial information for our team. It does not constitute advice, an IVA recommendation or creditor approval. A fuller review is needed before any proposal could be considered.
Explore your options before deciding
A GOOD PLACE TO START
Want to tell us a little about your circumstances?
Our short check takes around two minutes. It doesn't commit you to anything and your enquiry comes directly to our insolvency practice.