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Thinking about an IVA?

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i England, Wales and Northern Ireland

Getting an IVA

Individual voluntary arrangements: Loans and credit

You need permission to take out credit during an IVA (individual voluntary arrangement). This includes for loans and credit cards.

Talk to the insolvency practitioner (IP) supervising the arrangement if:


  • You need to borrow more money
  • Your budget is not working for you

You need their written permission to borrow more.

They may also need to:


  • Review your budget
  • See if your IVA is still working for you

IVAs are arranged by StepChange Voluntary Arrangements, part of StepChange Debt Charity. In Scotland, a protected trust deed is a similar solution. This has different benefits, risks and fees.

mum at the table with bills

Thinking about an IVA?

We can help. Free, online debt advice available now.

Get debt help

What credit can you take out on an IVA?

You need your IP's permission to borrow more than £500 while on an IVA.

This includes:

  • Credit cards
  • Overdrafts
  • Personal loans
  • Payday loans (and other products from commercial lenders)
  • Borrowing money from family or friends

You are breaching the terms of your IVA if you take out more than £500 in credit without permission.

It may be difficult to borrow because your credit file shows:

  • The IVA
  • The defaults on your existing debts

An IVA can also affect:

  • Your job
  • Your home
  • Your ability to get credit in the future

Read more about IVAs and your credit rating.

Can I borrow money from family and friends during my IVA?

You need consent from your IVA supervisor to borrow more than £500 from family or friends.

You cannot obtain credit above £500 from anyone without consent from your IVA supervisor. This is in the terms of your IVA.

Is is considered 'preferential treatment' if you pay family and friends before the people you owe.

Talk to your IVA provider if:

They can discuss your options with you.

Could I enter into a salary reduction scheme during my IVA?

Most salary deduction schemes are treated as a form of additional credit.


  • It is seen as borrowing money from your employer
  • This includes:
  • Cycle to work schemes
  • Season ticket loans

Your IVA provider may agree to this depending on:


  • The type of salary deduction
  • The amount of the deduction
  • The reason for it
  • The impact on your IVA

Clare Lindley and James O'Carroll of StepChange Voluntary Arrangements are licensed to act as insolvency practitioners in the UK by the Insolvency Practitioners Association.

Get help now

Get free and impartial debt advice to find out if an IVA is right for you.


  • You can only get an IVA with the help of an insolvency practitioner
  • StepChange Voluntary Arrangements is an approved organisation to manage IVAs

StepChange Voluntary Arrangements is a registered trading name of Consumer Credit Counselling Service Voluntary Arrangements Limited, a wholly owned subsidiary of StepChange Debt Charity.