www.iva.co.uk

Once you have had an IVA can you take out another if in later years you fall back into financial difficulties ?

There's no reason why not. How long ago did your previous IVA finish?

You can do it although creditors would want a thorough background story. HMRC may ask more questions than other creditors but it is not that uncommon.

Oh crikey! The thought of that again would totally fill me with horror! For us the iva was the biggest wake up call we needed in order to learn how to budget and not use credit unnecessarily!!

But sometimes things outside of your control take over and although it would not be my wish to complete another IVA, one never knows. I'm in control of my borrowing right now and don't have debt as such but hoping one day to get a new car and move house.

Hi

Some people fall in to trouble once again due to changes in personal circumstances such as business failure, relationship breakdowns or illness

Regards

To be fair, I doubt any of us actually "planned" an IVA in the first place! Whilst no-one would want to go through the process again it IS a case of "never say never".

I've acted for a number of second time a rounders, and so long as the circumstances which have led to the debts second time around are readonable, there should be no reason why a second IVA would not be acceptable to creditors.