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Hi, I have 2 children at private school - the 2nd only has 1.5 years to go. Can I keep them at private school and have an IVA ? I suspect the answer is no.

Hi there and welcome to the forum

If your children are at a critical stage of their education - which it seems that your 2nd child is, then you may be able to persuade creditors that they ought to remain there at their expense, but usually private education is frowned on by people who are being asked to write off monies that are due to themn.

Could you afford to keep the children in school and make a substantial return to your creditors?

It all depends on what you can offer your creditors and how critical being at this private school is appropriate for your children. Sometimes (and we have managed it only on two occasions) creditors will agree but there has to be a good dividend and a good reason.

You might find that your eldest would be allowed as they are obviously at the GCSE stage and it might be too disruptive to move, but you might have to move the other one.

I recommend that you speak to an IP as soon as possible to discuss your options. Visit www.iva.com where there are reputable companies listed on there. They will advise you as to the best way forward.

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Have you thought about asking the private school for help - often, as they are charities (and keen to retain their charitable status) they may be willing to offer some help through a bursary or scholarship?