www.iva.co.uk

hi,
i plan on becoming a mortgage advisor at some time in future. i have debt of £25000 that i wish to complete via an IVA. my brother is willing to lend me a lum sum to clear my debt.
will getting an IVA effect my mortgage advisor career and what kind of effect will it have if i wanted to buy a house in 2 years time. thank you very much for your attention.

Hi there and welcome to the forum

You will need to check current FSA guidelines with regard to the effect an IVA might have on your future career plans. If your brother has money readily available, why don't you try and negotiate a direct settlement with creditors to avoid a formal insolvency appearing on your record.

If you have completed an IVA, in 2 years time this will still appear on your credit record, and therefore you will be looking at finding a hefty deposit of between 10% and 20% probably if you want to purchase a property, and potentially a high interest rate on top of that.

Hope this helps!