What debt types go into an IVA?

One thing you need to know before you move is that unsecured debts will always go into your individual voluntary arrangement. IVA’s will never welcome secured debts. Some of the unsecured debts your individual voluntary arrangement will cover include:

1.       Unsecured loans

2.       Council tax debts

3.       Payday loans

4.       Old mortgages

5.       Old rent arrears

6.       Catalogue debts

7.       Credit cards

8.       Overdrafts

9.       HMRC debts

10.   Other debts that are listed as unsecured.

Some people owe mostly secured debts. However, they expect an individual voluntary arrangement to cover that. This is not going to happen. The more you know that the better for you.

It is always important for you to know what you stand to gain or lose with these arrangements. There is nothing complicated about these arrangements. However, when you do not obtain information about them you always feel they are complicated. When you type individual voluntary arrangements into any online search engine, you get results that stand out. It is important to know some of the debts that will never belong to an individual voluntary arrangement. This will help you in knowing if you qualify or not.

Some debts that never go into IVAs include:

1.       Rent

2.       Mortgage payments

3.       Guarantor loans

4.       Car finance

5.       Hire purchase arrears

6.       Student loans

7.       Secured loans

8.       Social fund loans

9.       Guarantor loans

10.   Court fines and others.

Obtaining all the details you need about these arrangements will always make you very happy. Just make sure nothing is taken for granted no matter what.Click here to know more about #https://www.ivawizard.net/iva.html.