There is no IVA Register as such, but the Insolvency Register is a public record of all court-approved insolvency arrangements, including bankruptcy, Individual Voluntary Arrangements (IVAs) and Debt Relief Orders. (DROs)
People who enter into the protection of bankruptcy can expect to appear on the Insolvency Register for 15 months, whereupon their name is removed. People entering into IVAs are not so lucky, as they will remain on the register for a minimum of five years, but this can extend to seven years in cases where there have been payment holidays or underpayments.
A guideline for how much you should be paying is roughly £185pm for £20,000 debt. If it is less than this, you have been placed in a ‘low start’ IVA and an extension on the five year term is likely.
This information is in the public domain – google ‘Insolvency Register’ – which means that anybody can search for people in these court sanctioned debt arrangements, including bankruptcy.
Feel free to call us for a confidential chat about your circumstances on 01425 600129 and we will talk you through your options and how we can help you. We offer an a – z service, including the completion of the all-important income and expenditure and submitting the bankruptcy application online.