An Individual Voluntary Arrangement (IVA) is a private arrangement between you and your creditors so there should be no need for your family or partner to find out. The only exceptions to this is if you are buying a property jointly, or if you have shared or joint debts.
Due to the legal nature of an Individual Voluntary Arrangement (IVA) it has to be recorded. This record is known as
the IVA Register and it is a public document accessible to anyone. The reality is of course that friends and family are highly unlikely to access it even if they know it exists. However, the thought of your Individual Voluntary Arrangement (IVA) becoming public knowledge is bound to cause anxiety due to its sensitive nature.
Really the only people who need to know about your Individual Voluntary Arrangement (IVA) are those you choose to tell, the professionals who administer it, any credit reference agencies and of course the creditors.
If you are buying a property with a partner it will become necessary to tell them so that the Insolvency Practitioner can ring fence their share of any equity and protect it from the creditors.
If you are experiencing serious debt and would like to chat with one of our experienced advisers call 0800 088 7503 or visit My IVA Adviser and download any of our free guides designed to help you with your debt problem.