Evening to you all.
I was wondering if someone could offer me some advise.
10 years ago I declared Volunt. Br due to Sole Trader debtors failing to pay there bills. It was a surprise to me exactly how fair the OR was even though I ended up having 2 meetings. The first was 5 hrs long and the second was 3 hrs long. After the meetings I heard nothing else and they never requested any further information not did they contact any of my debtors to chase the outstanding monies. My BR was on my record for 3 years. I now find myself in the position where I am looking at an IVA. This is partly due to my error and my attempts to clear some of my creditors from my earlier BR (I know this was not necessary but I live in a small town and felt it was the reasonable thing to do. I also repaid my father as he stood Guarantor for my business OD which was 24k. My real question is "will the previous BR go against me in an IVA or will the creditors look at the offer and consider the fact that I have previously survived a BR and have survived the stigma that people are often very concerned about and as such take the offer made after it has been checked and approved by an IP"
Your previous bankruptcy need not stand in the way of an IVA now, but best to seek advice directly from an insolvency practitioner to find out about all options.
Are you still self-employed? If so, you will need to have a face to face meeting with the firm you choose to represent you - but this need not take place until you have made up your mind that the IVA is the best solution.
You need to have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars.
Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with.
They will give you the appropriate advice and it is free.
Your old bankruptcy will not affect your current position at all.
Let us know how you get on.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
That's a very positive post Almostthere, sorry you find yourself in this position again.
As Melanie and David have said, ring one or two IP's who will go through your options with you.
Good Luck and let us know how you are getting on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
