IVA and Disability

At myIVA-Adviser.com we have several clients with a disability. Financial problems affect people whether they have a disability or are able bodied. For that reason the solutions to financial problems are equally available to people with a disability or people who are able bodied. In short because someone has a disability the option of an IVA is just as available to them as anyone else.

There are however some points to bear in mind when considering an IVA which apply to anyone whether suffering with a disability or not. These points centre around affordability and source of income.

Creditors and insolvency practitioners are becoming more cautious when considering IVA applications if the debtor is not in full time employment or is receiving state benefits. This caution is not based in discrimination but in the need to be seen to be giving "best advice." The point is that if your income is provided by the state it cannot be considered in a bankruptcy thus making bankruptcy the "best advice" choice. Similarly if your income is low the same argument applies and a bankruptcy is likely to be the correct option.

Having said all this the choice to opt for bankruptcy or an IVA is yours, and as long as the insolvency practitioner has a record on file proving that your options were explained properly he can provide whatever you choose.

To find out whether you qualify for an IVA read our article called:

"Do I qualify for an IVA?"

which can be found along with many others at our articles page providing useful information about IVAs. Or you may prefer to call us on 0800 088 7503 and speak to one of our specialist advisers about whether you qualify for an IVA.

• Individual Voluntary Arrangements
• IVA Debt