Yes, you have a duty to advise your Insolvency Practitioner if your financial situation changes, whether that’s for the better or for the worse.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA or need further help with your IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you and on whether you qualify. Click here to find out more.

It is your duty to make your Insolvency Practitioner aware of any changes to your income throughout the duration of your IVA. Failure to declare an increase in your disposable income will result in you breaching the terms and conditions of your IVA.

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