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Managing an IVA

Individual voluntary arrangement. IVA budget tips

An individual voluntary arrangement (IVA) can be flexible, but you must stick to your budget. There should be a section for emergencies.

Talk to your individual voluntary arrangement provider if you have an unexpected cost.

  • They are the best people to help you
  • Do this is as soon as you can

This page has some other practical tips to help you through this time.

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.

Get some extra support

Your IVA provider can help you if they know you are struggling.

They may be able to offer you a payment break to cover emergency costs.

The situations could include:


  • Job loss
  • Illness
  • Separation/divorce
  • Unexpected expenses, like:
  • A broken boiler
  • Car repairs
  • Expensive vet bills

Stick to your budget

Your IVA budget usually has a section for emergency savings.

You can also use a basic bank account, for costs you do not need to cover each month, like:


  • Birthdays
  • Christmas
  • Road tax

It is best to get an account with:


  • A bank you do not owe money to
  • No overdraft facility

Find out if you can get financial assistance

You may be able to get emergency financial assistance if you are in a ‘cash crisis’ like not being able to buy food.


  • Local authorities sometimes have emergency funds
  • Food banks can help you with essentials

Your IVA may not be working if you struggle to cover essentials.

Tell your IVA provider so they can look at your options.

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 a quote for any work or repairs

Try to work out how much money you need to cover the emergency expense you are dealing with.


  • Get several quotes for any work or replacement products needed
  • Check in stores or online to see how much similar or replacement goods are

MoneySavingExpert.com has some great tools to compare prices online.

Stay away from extra credit

Do not take out credit to cover an emergency cost.

Taking out extra credit or a loan on an IVA may go against the terms of your IVA and could cancel it.

Get in touch with your IVA provider if taking out credit seems like your only option.

Ask for help

It is normal for spending to change from year to year. There will be unexpected costs.

Most creditors will try to work with you when things go wrong.

Speak to your IVA provider if your IVA is not working for you.

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