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Posted: Thu Oct 11, 2007 9:52 am
by tommy.l
Does an IVA count as bankruptcy?
As I work in a business that this is not an option in
Posted: Thu Oct 11, 2007 9:55 am
by mikebdomain
Hi Tommy and welcome to the forum No an IVA does not count as a bankruptcy - an IVA is a real alternative to a bankruptcy
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Posted: Thu Oct 11, 2007 9:58 am
by iva experts
Welcome to the Forum Tommy,
An IVA is quite similar to bankruptcy in alot of ways but they are definitley not the same thing. My advice would be to check your terms and conditions of employment to see if an IVA would affect your position.
Could you supply some more information like amount of debt? creditors? and disposable income (monthly income minus living expenses)? we can then advise further.
Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Posted: Thu Oct 11, 2007 2:48 pm
by Adam Davies
Hi
Yes make sure you check your t+c of employment as you will be entering into an insolvency agreement and will have your details entered onto the insolvency register.
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: Thu Oct 11, 2007 3:12 pm
by Underground
tommy.l wrote:
Does an IVA count as bankruptcy?
As I work in a business that this is not an option in
it messes your credit up same as Bankcrupcy
Posted: Thu Oct 11, 2007 4:38 pm
by tracy.h
If somebody is looking into going into an iva then they probably arent worried about there credit history and more concerned about paying there creditors with a viable solution.
Posted: Sat Oct 13, 2007 3:40 pm
by zarron
When I started my IVA i asked does this mean i am now bankrupt and was told no you are insolvent not bankrupt.
I asked the question to my IP because I wanted to know how to answer questions on forms that asked.. have you have ever been bankrupt? and it seems that if you take the IVA route to sorting our your debt you can always answer no!
Posted: Sat Oct 13, 2007 6:31 pm
by Adam Davies
Hi
You and your IP are absolutley correct
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