Hi
I currently have an IVA which finishes in Oct 2017
my family are setting up a CIC company and have asked me to be a director please can you confirm I am able to do this and also if I have to let the IVA people know?
Hi and a warm welcome. Unfortunately, I cannot answer your question but alongside our professionals who post, we have some very knowledgeable posters who I am sure between them can answer, so hang in there and I'm sure someone will be along very shortly.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I've no idea either but hopefully one of our experts will pick up on this tomorrow.
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
I have not gone through it but 1) if the intent is for you to have access to the bank account or help apply for it or 2) you are regarded as someone important enough under the "key man" principle then I would not recommend you accept.
Additionally in certain public sector organisations e.g. NHS you would not allowed to be a director.
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.
Hi Some charities will specifically ask about your personal insolvency status and an IVA would be deemed reason not to allow you to be a director.
I'm not sure whether there is a standard term as I thought it would be unique to each charity.
Here, your family are setting the charity up so they might have the ability to select their own terms but they need to take great care to show that they have chosen their Board carefully in case things go wrong and document their reasons for accepting you if they know of the IVA.
