IVA credit

While you have an IVA (individual voluntary arrangement), there are rules regarding taking out further credit.

IVA credit deals

If you have an IVA, you need written permission from the person supervising the arrangement before you can borrow any further credit. However, even if you manage to obtain this permission, it is unlikely you will be able to borrow any more money from a reputable lender because of the poor credit history showing on your credit file.

You should not consider taking out more credit while in an IVA without discussing the matter thoroughly with your Insolvency Practitioner to find out how it will affect your arrangement. You may find that your IVA is cancelled if you do borrow more money.

IVA help

For free, confidential help with individual voluntary arrangements, you can speak to one of our impartial, professional debt advisors on 0800 138 1111. If you already have an IVA, you should always discuss your situation with your Insolvency Practitioner first.

To find out if an IVA is the best debt solution for your situation, visit CCCS Debt Remedy, our online debt counselling service.

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More IVA advice and help from CCCS

The following articles will help you learn more about individual voluntary arrangements and how CCCS can help you:

If you want to know if an IVA is suitable for you, you can use our online debt counselling service, CCCS Debt Remedy, which will provide you with the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.