Will having an IVA cost me my job?

The answer to this particular question will vary depending on your profession. Whilst many professional bodies would automatically terminate your employment if you were to be made bankrupt, with IVA’s you may face a less harsh consequences.

If you were to sign up for an IVA and then be forced to leave your job, then clearly this would affect your ability to pay your monthly IVA contributions and you could be left back at square one or possibly facing bankruptcy proceedings.

Before entering into an IVA you should check with any professional body or association you’re a member of before making a decision you could live to regret.