Coronavirus: what IVA customers need to know

Last updated 23rd April.

IVAs do have some flexibility, and the Insolvency Service has extended this to support you during the coronavirus crisis: 

• your IVA Supervisor has the discretion to temporarily reduce your payments by up to 25% for coronavirus-related reasons, rather than the usual 15%. These payments will need to be made up at a later date
• we may be able to arrange a payment holiday if you can’t afford your payments due to coronavirus, even if you’ve used up all your available payment holidays already
• if you’re in breach of your IVA already, we may be able to suspend this breach so your IVA isn’t terminated during this crisis
• you may be able to put off paying redundancy payments into your IVA as additional monies
• you won’t have to pay in any additional income earned as overtime pay if you are a critical worker.

You may need to provide evidence of your change in circumstances in order to benefit from this additional support.

If you need to contact us, in the first instance please email us on [email protected] if

• Your circumstances have changed and you will struggle to make a payment, or
• You’ve received a court order or contact from a bailiff.

If you already receive help from our Extra Support Team, you’ll still be able to get straight through to that team if you ring us; alternatively, you can email the team on [email protected].

For all other questions about your IVA please email us via [email protected] and we will respond as quickly as we can. Of course, you can also call us during office hours.

We’ll be posting regular updates for customers on our website https://www.financialwellnessgroup.co.uk/blog/ so please keep checking for more information. We’ll also be updating our Facebook page regularly: https://www.facebook.com/financialwellnessgroup – so please follow us there too. We are also on Twitter at https://twitter.com/finwellgrp.