If you’re considering whether an individual voluntary arrangement (IVA) is the right debt solution for you, you may be wondering whether there are spending restrictions with an IVA. In simple terms, if you meet your IVA monthly repayments, there’s no specific restriction on what you spend money on beyond that. How much you have available to spend is the key point for IVA spending restrictions.
As an IVA is a route out of debt, you’ll be required to direct virtually all your disposable income towards repaying your debt. You certainly don’t want to be making purchases that could accrue more debt or make it difficult for you to meet the requirements of your IVA.
I would like to thank Irwin’s for the work and help that was done in securing an IVA for my wife. Your team showed great commitment and tenacity throughout the whole process without which we could not have achieved this outcome. Thank you again for your team’s help in moving forward.
Mr. T & Mrs. D B
Great Guys. Very Competent. Sat down with me and explained the law and all the proceedings without rushing me. Kept me up to date with everything. Great Service and would not hesitate to use again. 5 Stars !
Mr. Adam G
I would like to indicate my appreciation of the polite and professional manner in which business was conducted. Thank you to you and the team.
Mr. B D
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With over 25 years of experience, helping people just like you, we are committed to providing you with all the help and advice you need during these challenging times. Simply give us a call, drop us an email or fill in the form to find out how we can help you.
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