What debts can be cleared with an IVA?

If you are buried in debt and struggling to keep up with your repayments, an IVA could be an option to write off a substantial portion of your debt.

Some debts can be written off with an IVA and some debts cannot be touched. Here is a guide to what debts can and can't be included in an IVA.

Most of your debts will be included, typically:

  • Catalogues
  • Personal loans
  • Council tax arrears
  • Overdrafts
  • Credit cards
  • Gas and electric arrears
  • Water bill arrears
  • Payday loans
  • Store cards
  • CCJs
  • Income tax and NI arrears
  • Tax credit or benefit overpayments
  • Debts to family and friends
  • Any other outstanding bills (solicitor’s costs, invoices services etc)

Debts that usually aren’t included in an IVA:  

  • Mortgages and secured loans
  • Hire purchase agreements
  • Court fines
  • TV Licence arrears
  • Student loans
  • Social fund loans
  • Child support arrears
The debt write off amount for each customer differs depending upon their individual financial circumstances and is subject to the approval of their creditors. The example provided of 80% has been achieved by 10% of our customers in the last 12 months