Can I get a loan to pay off IVA?

It may be possible to obtain a loan to pay off an Individual Voluntary Arrangement (IVA), but it will depend on your specific circumstances and the terms of the loan. An IVA is a legally binding agreement that allows you to reach an agreement with your creditors to pay off your debts over an extended period of time.

Obtaining a loan while in an IVA may be challenging, as many lenders are hesitant to lend to individuals with a history of debt problems. However, some lenders may be willing to consider a loan application if you have made progress in paying off your debts through the IVA and can demonstrate an ability to make the required loan payments.

If you are considering taking out a loan to pay off your IVA, it is a good idea to carefully review the terms of the loan and to compare offers from multiple lenders. It is also a good idea to speak with a financial professional or an attorney for advice if you have any questions or concerns about the loan process. They can review your specific situation and help you determine the best course of action.