If you have additional funds available for any reason during the term of your IVA then you must declare these to your Supervisor. How much of these funds would be paid into the IVA would depend entirely on individual circumstances.

It may be that you require some of the funds from the sale of the mobile home in order to set up a new home in a flat. There may be a deposit to pay plus the first month rent for the flat and possibly administration fees to the estate agent or landlord. It could simply be the cost of hiring a van for the move or buying a cooker. So costs that would be deemed as reasonable should be allowed. The amount of money to pay into your IVA could therefore be less than the amount of money received from the sale.

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