Which debts can be included in an IVA?

 An IVA which is generally known as Individual Voluntary Arrangement is a formal as well as legally-binding settlement process conducted between you & your lender to repay your debts over a certain time. The Individual Voluntary Arrangement should be set up by a professional insolvency practitioner. An Individual Voluntary Arrangement can be flexible to match all your requirements however it can be quite costly & there are a number of risk factors to consider. The majority of the debts can easily be paid off via an Individual Voluntary Arrangement but there are certain exceptions too!!!   Debts you can easily incorporate When you get an Individual Voluntary Arrangement you can incorporate:   ●      catalogues ●      store cards ●      overdrafts ●      Council Tax arrears ●      credit card ●      payday loans ●      personal loans ●      tax credit or benefit overpayments ●      gas and electric arrears ●      water arrears ●      national insu