Hi, can you confirm what professions are excluded from applying for an IVA ?

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Kaye.n

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Post by Kaye.n » Thu Feb 04, 2016 2:09 pm
Hi, can you confirm what professions are excluded from applying for an IVA?
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Lisa Thomas

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Post by Lisa Thomas » Thu Feb 04, 2016 3:03 pm
Hi Kaye

I'm not entirely sure what you mean?

Do you mean what assets are excluded from being included in an IVA?

Every IVA is unique so will depend on what assets you have and whether you are offering something in liue of them.

Certain assets like tools of the trade and assets needed to meet your reasonable domestic needs are excluded as standard.

Does this help?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

kallis3

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Post by kallis3 » Thu Feb 04, 2016 3:05 pm
I think she might mean professions such as accountants and the like?
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Lisa Thomas

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Post by Lisa Thomas » Thu Feb 04, 2016 3:29 pm
Ha!! I read it as possessions! Reading too quickly.

So sorry Kaye.


IVAs are not usually an issue it's Bankruptcy that's more onerous and prevents people from being Chartered accountants, certain bank jobs, solicitors, IPs and Judges etc. and some services like Police, Fire, Army etc.

What do you do? Have a look at your contract to see if it mentions an IVA terminating your contract but I would think this is quite rare for a 'normal' job.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

lifenoteasy

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Post by lifenoteasy » Thu Feb 04, 2016 3:39 pm
Also certain public sector jobs don't allow you to be in an iva.

Police are getting a little better but only to existing employees.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Shining

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Post by Shining » Thu Feb 04, 2016 3:53 pm
Always worth an anonymous call to HR in some cases, I'm a teacher and taught all the way through mine.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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