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I have completed an IVA in the past - can you enter into one again???

Also, if you enter into an IVA and you have a car on finance, can you keep the car and maintain the finance agreement separate to the IVA?

Absolutely, there is no legislation saying that there is a finite number of times that someone can propose and IVA or go bankrupt.

Best Regards
Oliver

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

Yes you can, I don’t believe there is a restriction on how many times you can enter into an IVA.

Is there any particular reason why you wouldn't go bankrupt this time round?

Hope this information is of use

Regards. IVA Experts

What about the car finance question?
Also why should I go bankrupt?

As the car finance is a secured creditor, you will need to keep making the repayments as part of the IVA and they should be included in your income and expenditure statement which drives the amount of disposable income you have available.

Maybe you ought to consider bankruptcy proceedings as you have problems in managing a budget? Although there are no restrictions on the number of IVAs you can put forward, common sense prevails and your new creditors will need to be made aware that this is second time around for you. Notwithstanding this, they will hopefully take a commercial decision on whether your offer represents a better return for them than in bankruptcy when asked to support.

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