does a recent loan affect applying for an iva?

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reflex

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Post by reflex » Fri May 02, 2008 2:05 pm
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i recently took out a loan to cover an overdraft but was looking at applying for an iva does the fact that i recently took out a loan affect this
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Lisa2009

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Post by Lisa2009 » Fri May 02, 2008 2:07 pm
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I would think it would depend on the ammount, how recent and who the loan was from.
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size5

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Post by size5 » Sat May 03, 2008 12:47 am
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It is certainly not an ideal scenario, but it shouldn't deter you from speaking to a specialist directly, you can go to www.iva.com and pick 2 or 3 from there to speak to.

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MelanieGiles

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Post by MelanieGiles » Sat May 03, 2008 11:42 am
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I recently was asked to look at a case where out of £70k of unsecured credit, £40k has been taken out over the last month in two consolidation loans with no repayments having been made. I asked the lenders involved whether they would be prepared to consider an IVA, but they declined preferring a DMP initially.
Regards, Melanie Giles, Insolvency Practitioner
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