IVA Debts

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What debts can and cannot be included in an IVA?

  • Overdrafts from bank accounts
  • Hire purchase on products no longer needed
  • Credit cards
  • Unsecured loans
  • Mobile phone contracts no longer needed
  • Payments owed to repossessed properties
  • Store Cards and Catalogue bills can be included
  • HM Revenue and Customs VAT
  • HM Revenue and Customs PAYE
  • HM Revenue and Customs self assessment tax
  • HM Revenue and Customs National Insurance
  • Money owed to friends and family
  • Hire purchase debts on goods still needed
  • Student loans (falls outside of the insolvency act 1986)
  • All educational loans (falls outside of the insolvency act 1986)
  • Magistrates court fines
  • Speeding fines or parking tickets
  • Child support (CSA)
  • Money secured on your house (i.e. mortgages or secured loans)
  • Arrears on rental property which you currently occupy
  • Debts incurred through fraud