I am a self employed professional (Dentist) and have 3 practices with staff etc...Will an IVA allow me to continue trading and servicing my practices???
hello and welcome-would you be able to post a little more regarding your situation and why you feel you may need an iva-ie are you personally in debt or is your business. keep posting and an expert will pop in soon [:)]
I think you would be able to continue trading as long as you could service payments to an IVA along with your other expenses. Whether that would apply to three practices though, I don't know.
As Fergiedoggy says, we need to know a little bit more about your circumstances before we can give specific advice.
Last edited by kallis3 on Mon Jan 05, 2009 7:04 pm, edited 1 time in total.
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
Just a word of caution. Because you are a trading business be very careful which IVA provider you approach for help.
Many will say yes they do look after trading as businesses but you really need to be speaking to an IP directly and not one from a huge firm with a telephone call centre.
you can check out the quality of their feedback on www.iva.com, however if you get a chance to speak to Melanie Giles or one of her senior team then it would be a very worthwhile call.
Paul Johns
Reviva UK
Assisted Bankruptcy Specialists www.revivauk.com
Yes - an IVA would be suitable for a practising dentist. I have several dental practices I am currently dealing with, and I believe that under BDS rules you cannot practice if you are made bankrupt - although you ought to check that as I may be a bit out of date.
As with all enquiries to this site, direct professional advice from an insolvency practitioner at an early stage would be highly recommended if you are struggling financially.
Melanie is right - we also have many practising Dentists where my Chartered Accountancy practice has placed self employed persons into trading IVA's (and where the dental practitioner is in an IVA). Speak to an appropriate IP as soon as possible as suggested in other posts here. Good luck.
Last edited by David Mond on Wed Jan 07, 2009 3:03 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
