Already in an IVA with us?

How do I make my monthly IVA payment?

For now, call us on 01625 540 744 and we will tell you how to pay (see making your monthly IVA payment). Keep paying the agreed amount every month unless your supervisor agrees a change.

If you cannot pay in full one month, tell us before the payment is missed. Your supervisor can agree a payment holiday or a lower payment without going back to your creditors (standard terms (opens in a new tab)). Three or more months of arrears with nothing agreed is a breach of a protocol IVA, which can lead to it being ended: read what happens if an IVA fails.

For a reminder of how the whole arrangement runs, see how an IVA works.

What happens at my annual review?

At each annual review your supervisor checks your income and spending with P60s, payslips, bank statements and other evidence; if your disposable income has gone up, your payment rises by half of the increase a month after the review, and your supervisor can agree a reduction of up to 20% without a creditors' vote, while a larger cut needs a variation (standard terms (opens in a new tab)).

The review happens on or just before each anniversary of your IVA, and it checks that your payment is still affordable and fair to your creditors. You can email documents to info@ntffs.co.uk or post them to our office. If your situation has got worse, your payment may go down (Key facts (opens in a new tab)). This describes protocol IVAs; a bespoke IVA follows its own terms.

Take part even if nothing has changed. Not taking part in the review is recorded and can end a protocol IVA.

What if my circumstances change?

If your circumstances change, you must tell your supervisor as soon as you reasonably can, because a pay rise, a windfall or a new job can change what you pay, and a fall in income may mean a payment holiday or a lower payment (standard terms (opens in a new tab)).

What the standard terms of a protocol IVA ask of you:

• A pay rise or a new job. Tell us so your supervisor can review your payment.
• Overtime, a bonus or commission. If it is worth more than 10% of your normal take-home pay, tell us within 14 days and pay in half of the amount above that 10%.
• An inheritance, windfall or other asset worth more than £500. Tell us: see the next section.
• Redundancy. Tell us within 14 days of the notice. You can usually keep up to 6 months of your net take-home pay, and any more goes into the IVA.
• An emergency expense or a drop in income. Tell us straight away. Payment holidays of up to 9 months in total, or a reduction of up to 20%, may be possible without a vote by your creditors.
• A new address, phone number, email or employer. Keep us up to date.
• New credit. You need your supervisor's written approval before taking on more than £500.
• Selling or borrowing against an asset in the IVA. Get your supervisor's written consent first.

What happens if I get a windfall or inheritance during an IVA?

A windfall or inheritance worth more than £500 must be reported to your supervisor as soon as reasonably possible, and the supervisor can claim it for your creditors, but only up to the amount needed to repay them in full plus the IVA's costs (standard terms (opens in a new tab)).

The rule covers assets you receive between the day the IVA starts and the day it ends or is completed, so something you inherit after completion is not included. Never keep a windfall back: the protocol says failing to give accurate information could lead to criminal proceedings as well as the end of the IVA (IVA Protocol 2025 (opens in a new tab)).

Who do I contact about my IVA?

Contact us on 01625 540 744 or at info@ntffs.co.uk for anything about your IVA, including payments, your review, changes in your circumstances and letters from creditors; your supervisor is named in your IVA documents (rule 8.3 (opens in a new tab)).

Creditors included in your IVA should stop asking you for payment once it starts, although they may still write to confirm balances or send statements (Key facts (opens in a new tab)). If a creditor in your IVA asks you to pay or threatens legal action, send us a copy.

Our address and opening hours are on the contact page. If you are unhappy with how your IVA is being run, tell us first; regulation and complaints explains what you can do if that does not settle it.