Could I use £9000 to settle IVA

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Post by jon855 » Fri Dec 14, 2018 9:22 am
I am currently looking at entering into an IVA, and it would start within the next 2 months. I am currently employed full time and have been made aware that in a year my work would offer me £9000 after tax to remain with the company for another 3 years. Some of this would be an early payout from my pension. I am 27 so no where near an expected payout from it this is just a one time deal. Would my IVA swallow all of this? If not could I use this £9000 to settle my IVA if it was a suitable amount.


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Post by kallis3 » Fri Dec 14, 2018 9:48 am

How much are your debts?
Sharing from experiences of dealing with debt
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Post by Foggy » Fri Dec 14, 2018 10:18 am
It is likely that your IVA will take this payment, or at least around half of it, in addition to your usual monthly payments.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

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Post by Lisa Thomas » Fri Dec 14, 2018 11:06 am
Maybe you could use it to reach a direct settlement with your creditors and avoid an IVA altogether. Depends on your circumstances and level of debt.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800
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