Paperwork for an IVA - Applying in the UK

An IVA is an agreement between you and your creditors and while opting for an IVA, you will need to provide few documents to the Insolvency Practitioner (IP). This paperwork will verify your truthfulness with regard to the information furnished by you.
The IP needs to verify the reliability of all your details, as an IVA is a legally valid agreement.

The essential paperwork that you need to take care of is:

  • Some proof of your identification with your photograph onto it. This could be your passport or UK driving license.
  • Your address proof such as the latest Council Tax bill. Any document or bill bearing your residential address will do.
  • Property Valuation Report. For this, you may have to furnish the sales details of any property sold in your street recently which happens to be very much similar to your property. This info you can gather from a real estate agent in your area or from some newspapers.
  • The Tenancy Agreement of your property. Mortgage Statement: You normally receive an annual statement describing all payments you have made and the remaining balance.
  • Value of Endowment Policy: You can ask your Life Insurer in providing this detail.
  • You need to furnish a copy of your original Car Finance document detailing out the agreement period clearly.
  • Your Salary slips of your last 3 consecutive months. If your partner is also working, his or her salary slips will also be required.
  • For a self-employed trader, the Trading Accounts details for the last 3 years will also be required.
  • For a self-employed person, furnishing Cashflow details are also important. Your account may keep it ready for you.
  • Your Creditor Account statements detailing out the current status of all your debts.
  • Your Tax Assessments.

Post a comment