Get a quote for any work or repairs
It’s a good idea to calculate how much money you’ll need to cover the emergency expense you’re dealing with. Get several quotes for any work or replacement products needed, and check in stores or online to see how much similar or replacement goods are.
It’s important to know how much money you need to find. MoneySavingExpert.com has some great tools to compare the prices of goods online.
Stay away from extra credit
Don’t take out a loan or credit card to cover an emergency cost. Taking out extra credit or a loan on an IVA can jeopardise your IVA and may result in it being terminated. This is because your IVA was set up on the understanding that you’d take out no credit higher than £500. If taking out credit seems like your only option, you must get in touch with your IVA provider.
Ask for help
Fluctuations in your spending over the years are inevitable, and most people will face an unexpected expense at some point in their lives. However, most creditors are very understanding and should work with you to come to an agreement. So keep this in mind, and don’t be afraid to speak to your IVA provider if your IVA isn’t working for you.