I live with my parents – will they be blacklisted?
The individual’s name, rather than their address, is what is listed. Your parents or any other people you live with … More »
Will interest and other charges be frozen while the IVA is being set up?
No, but any interest and charges will be covered by the IVA when it is approved.
What if I run my own business?
An IVA allows business people to continue trading so your business should continue unaffected. However, If you need to incur … More »
Who needs to know about my IVA?
Each of your creditors will be given notice of the creditors’ meeting. That includes secured creditors as well as unsecured … More »
Will my creditors keep harrassing me while the IVA is being set up?
Creditors and debt collection companies are likely to continue to contact you. Just let them know you are dealing with … More »
Can a creditor take further recovery action before an IVA is approved?
Yes, but we can apply to the courts for an Interim Order to stop any of your creditors taking further … More »
Can my partner and I do a joint IVA?
You can have a joint IVA if you have a number of debts in common. But it could be that … More »
How long does an IVA last?
IVAs typically last for a five year period but creditors generally do not want to see any arrangement that lasts … More »
What happens if my circumstances change during my IVA?
The procedure allows the terms of the IVA to be varied to reflect a change in circumstances provided the creditors … More »
How long does it take to set up an IVA?
Providing everything is standard, it takes typically between 6 and 8 weeks to set up an IVA, however sometimes this … More »
Are there any creditors I can’t include in my IVA?
It isn’t possible to include creditors that you would still have to pay even if you were made bankrupt. These … More »
Can I cancel the IVA once it is set up?
First, you’ll need to discuss the situation with the insolvency practitioner supervising your IVA Because an IVA is a formal … More »
What if the creditors reject my IVA?
At Moneypressure the vast majority of IVA’s we propose to creditors are accepted so this does not happen often. We … More »
What is the difference between a secured and unsecured debt?
A secured debt is a debt secured against an asset that you own. Typically this will be a mortgage, a … More »
Will I have to go to court?
Its very unlikely you will have to appear in court as the whole process will be dealt with by Moneypressure.co.uk. … More »
What about my bank account?
If you have outstanding credit with your bank at the time of proposing your IVA your account may be frozen. … More »
How do I know an IVA is right for me?
An IVA is a flexible arrangement and works for a great many people. In 2010 over 50,000 people successfully entered … More »
What is a full and final settlement IVA?
When your circumstances are unlikely to improve in the future and you are unable to afford monthly repayments toward your … More »
How much does an IVA cost?
You will not personally have to pay any fees. All fees are approved by your creditors and are made up … More »
What is an IVA?
An Individual Voluntary Arrangement (IVA) is an agreement between you and your creditors where you make funds available for distribution … More »
How does an IVA work?
We have a meeting or phone interview where we discuss your circumstances. We then assess the information in order to … More »
What about my house?
Creditors understand that your home is a priority. People occasionally decide that they are willing to sell their home and … More »
