can i start a new business when in an IVA?

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razz

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Post by razz » Sat Jun 09, 2007 5:42 pm
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can i start a new business when in an IVA? I cant find anywhere which will tell me. cheers
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MelanieGiles

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Post by MelanieGiles » Sat Jun 09, 2007 6:31 pm
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Yes - so long as your income from the new business in sufficient for you to be able to make your IVA payments.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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empem

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Post by empem » Sat Jun 09, 2007 6:43 pm
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i will still be keeping my regular job and the new company will just initially act as extra income. will i just pay 50% of the profits?
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MelanieGiles

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Post by MelanieGiles » Sun Jun 10, 2007 12:59 pm
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This will depend upon the wording of your IVA proposal. If you have the 50% uplift provision, then you will probably only have to contributed 50% of the profits.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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Adam Davies

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Post by Adam Davies » Sun Jun 10, 2007 7:27 pm
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Hi
Good luck to you !!
Will you need a seperate business account ??
If so you may find it very difficult to get one,however if you are successful please post the details of the bank as it will help many.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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