Managing Your Budget During An IVA

If you choose to enter into an IVA to deal with your debts you will usually be restricted to a limited budget for an extended period of time. The idea isn't to cut things so financially tight that it's impossible to manage. However, to secure the agreement of your creditors to your individual voluntary arrangement (IVA) they will expect you to pay to them what is reasonably affordable for you. In this article we review how to set up an IVA budget, how to monitor and control your spending, ways to manage occasional expenses, and what to do if things change for you financially during the IVA.

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