question category: IVA

IVA and 2 incomes
Submitted on: 29th Jan 2010 by Non-Member | Total Answers: 1

Im about to apply for an IVA, I currently take home around £1570 a month in my full time job and also have a second temp job which i do at weekends, this income varies every month from between £90-£200 as work is not guarented, but i really rely on this to get me through the month. I pay £190 a month to my debt mangement plan and wanted to continue paying the same amount in the IVA. If i entered into an IVA, would all of my extra income be taken?
Any help would be greatly appreciated.
Thanks :-)

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Re: IVA and 2 incomes

You have to be completely truthful when applying for an IVA or you run the risk of it failing.

The company or charity you work with on your IVA should put together a financial statement you are happy with. Remember that an IVA is your proposal to your creditors.You have to be happy with it.

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.

Submitted on: 8th Feb 2010 by Darren Member

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