Does an IVA count as bankruptcy?

8 posts Page 1 of 1
Post Reply
 
 

tommy.l

User avatar
Posts: 1
Joined: Thu Oct 11, 2007 9:50 am
Location:
Post by tommy.l » Thu Oct 11, 2007 9:52 am
Quote
Does an IVA count as bankruptcy?
As I work in a business that this is not an option in
Top
 
 

mikebdomain

User avatar
Posts: 1126
Joined: Thu Aug 23, 2007 10:03 am
Location: United Kingdom
Post by mikebdomain » Thu Oct 11, 2007 9:55 am
Quote
Hi Tommy and welcome to the forum No an IVA does not count as a bankruptcy - an IVA is a real alternative to a bankruptcy

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
LEYBRIDGE LIMITED
Mortgage Broker & Mortgage packager
Directly Authorised Firm FSA No:313790
CeMAP 1,2 & 3 qualified
F.P.C 1,2 & 3 qualified
Financial Planning Certificate
Certificate in Regulated Customer Care
Top
 
 

iva experts

User avatar
Posts: 1271
Joined: Thu Apr 20, 2006 5:31 pm
Location:
Post by iva experts » Thu Oct 11, 2007 9:58 am
Quote
Welcome to the Forum Tommy,

An IVA is quite similar to bankruptcy in alot of ways but they are definitley not the same thing. My advice would be to check your terms and conditions of employment to see if an IVA would affect your position.

Could you supply some more information like amount of debt? creditors? and disposable income (monthly income minus living expenses)? we can then advise further.


Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
Top
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:
Post by Adam Davies » Thu Oct 11, 2007 2:48 pm
Quote
Hi
Yes make sure you check your t+c of employment as you will be entering into an insolvency agreement and will have your details entered onto the insolvency register.
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
Top
 
 

Underground

User avatar
Posts: 2
Joined: Thu Oct 11, 2007 12:41 pm
Location:
Post by Underground » Thu Oct 11, 2007 3:12 pm
Quote
tommy.l wrote:

Does an IVA count as bankruptcy?
As I work in a business that this is not an option in

it messes your credit up same as Bankcrupcy
Top
 
 

tracy.h

User avatar
Posts: 672
Joined: Wed Mar 14, 2007 11:20 am
Location:
Post by tracy.h » Thu Oct 11, 2007 4:38 pm
Quote
If somebody is looking into going into an iva then they probably arent worried about there credit history and more concerned about paying there creditors with a viable solution.
Top
 
 

zarron

User avatar
Posts: 54
Joined: Tue Oct 09, 2007 12:24 pm
Location:
Post by zarron » Sat Oct 13, 2007 3:40 pm
Quote
When I started my IVA i asked does this mean i am now bankrupt and was told no you are insolvent not bankrupt.

I asked the question to my IP because I wanted to know how to answer questions on forms that asked.. have you have ever been bankrupt? and it seems that if you take the IVA route to sorting our your debt you can always answer no!
Top
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:
Post by Adam Davies » Sat Oct 13, 2007 6:31 pm
Quote
Hi
You and your IP are absolutley correct
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
Top
Post Reply
8 posts Page 1 of 1
Return to “postbag for october”