www.iva.co.uk

Posted: **Sun Aug 05, 2007 8:27 pm**

i have an iva and just gone self employed can i go bankrupt while still earning a wage as i want to start a fresh and would it affect the address where i am living will it black list the address so my parents cant get credit or is it all personal on my file.

Posted: **Sun Aug 05, 2007 8:47 pm**

Hi
You can go bankrupt at any time if you are insolvent.If you are earning then you may have to pay money each month to the OR for upto three years.
Your parents credit rating may be affected by way of association but they can ask for this to be noted on their credit file.
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

Posted: **Sun Aug 05, 2007 9:12 pm**

What sort of business are you in? And do you feel that bankruptcy is a sensible option for you as you are just in the process of establishing a new business? You will need your Trustee's permission to carry on trading, which may be witheld depending upon the type of business you are running.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Sun Aug 05, 2007 9:43 pm**

Just so that you know, I went bankrupt in March and my partner (who I live with) has just been approved for a new mortgage without any problems.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

Posted: **Mon Aug 06, 2007 10:30 am**

Bankruptcy is certainly an option although this could have potential implications on your business so you would need to look into these first.

This will not affect anyone other than you and if there are any future credit file problems for anybody residing in the same address as you, they may disassociate themselves from your debt.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Posted: **Mon Aug 06, 2007 11:47 am**

Hi Michael and Welcome to the Forum!

I would advise that you speak with at least 2 or 3 debt solution companies to make sure that bankruptcy is the best option for you.

Could you provide some information, what is your estimated amount of debt? who are your creditors? what is your disposable income each month (income minus living expenses)?

Best Regards. IVA Experts