Paperwork for an IVA
What paperwork do I need to provide for an IVA?
In essence, you will need to provide documentation to support the information you have provided to the Insolvency Practitioner; the IVA is a legally binding contract and therefore the IP is required to confirm that the information provided is correct.
Here’s a short list to consider:
- Some means of confirming your identification – passport, UK driving licence (including the photograph), and proof of your address such as last Council Tax bill, or anything else with your address on
- Property Valuation: this should be recent (within 3 months), or as an alternative, sales details of similar properties for sale in your street which you can obtain from your local estate agents or newspapers etc
- Tenancy Agreement, where you are renting your property
- Mortgage Statement: This is issued annually, normally in December or March, which confirms the mortgage balance and the payments you have made
- Endowment Policy Valuation or Surrender Value: this can be obtained from the Life Insurer in writing
- Car Finance – HP: You should produce a copy of the original agreement setting out the length of the agreement
- Salary/Wage slips: you should provide at least 3 consecutive months of these slips for both you and your partner
- Trading Accounts: for self employed traders etc, ideally for the last 3 years
- Cashflow and trading Forecasts: Again for the self employed, which can be produced with help from an accountant
- Creditor Account statements/Correspondence: A statement for each debt to substantiate the current outstanding balance and reference numbers etc. Where the debt has been passed to a collection agent, we will need to have an older statement which sets out the lender’s details
- Tax Assessments: for outstanding tax debts
