Individual Voluntary Arrangements
If you are locked into an IVA and are concerned that recent increases in the cost of living are creating severe financial pressures, you can ask your IVA supervisor to review your income and expenses to see if you are eligible for a reduction in payments or a payment break.
You will be required to provide evidence of your income and expenditure to support a change to your contributions. This could include providing payslips, statement of benefits or utility bills.
Any amendments to your contributions into your IVAs would need to be agreed with your creditors.
Your supervisor has been provided with the latest guidance on adjustments to payments, via the IVA Standing Committee, and they will also be aware of alternative solutions to help you resolve your debt issues and can help you find further information where appropriate.
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