Can I clear all my debts with an IVA?

You can generally clear any unsecured debts with an IVA. These include the following:

• Credit cards
• Store cards
• Personal loans
• Overdrafts
• Outstanding balances after home or vehicle repossession
• Business loans or guarantees for which you are personally liable

However, some debts cannot be included in an IVA such as:

• secured debts
• parking fines
• large student loans

You can include a student loan in an IVA application, but if their debt represents more than 25% total debts they are likely to vote to reject your IVA proposals.

Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Re10 Debt Advice Helpline on free phone 0800 169 1536