IVA Question
Which debts cannot be included in an IVA ?
Secured loans and items on Hire Purchase can't be included as part of an IVA.
The following debts cannot be included, but "provisions" can be made within the IVA propsal. By provisons we mean, the fact they are outstanding and must be paid impacts your ability to repay your creditors.
- Council Tax Arrears
- Any fine or penalties imposed by a court
- Any liabilities arising under an order made in a family or domestic court action such as CSA claims for child support.
- Any liabilities arising under a confiscation order made under S.1 of the Drug Trafficking Act 1986 0r S.71 of the Criminal Justice Act 1988.
- Most educational loans, taken out after June 2004, as they fall outside of the Insolvency Act 1986.