iva's

[xanadu1812]

does entering into an I.V.A. have an effect on future job changes etc? i know it curtails any future credit for about six yrs but how else does it effect me?

[Kathyan]

As long as you can keep up the payments under the proposal you can change jobs. If you earn any overtime you will have to pay 50% into the IVA. Any windfall (inheritance or lottery winnings etc) will have to be paid into the IVA too. You will be under a very tight budget for 5 years. Hope this helps.

[xanadu1812]

thanks for that. I was thinking more about what may be the outcome if I was to be working in the finance industry. I have been told that because I wont have been a bankrupt that it won't make any difference.
Does anyone know whether this is true.
with regard to paying back more if I earn more ,I dont mind that, its my debt afterall.
many thanks in advance

[horselady]

My daughter-in law works in a bank and she would not be allowed to have an IVA so I think it could be a problem in a finance based occupation.