Hello Penny Pincher, although an IVA is a way to pay your debts off the proposal should still leave you with a realistic budget and in that budget there may be a contingency. A contingency is a payment each month, usually around 50 for you to set aside, which is classed as an emergency fund. If there was something drastic that happened depending on the company you are with you may be able to ask for a payment holiday or offer a reduced payment although this can not be guaranteed. It may be worth speaking to your case handler about these questions, if you are not happy give us a call here at DAT and we maybe able to put you in touch with a company who can do this for you.