www.iva.co.uk

would taking out an iva affect me differently as i am self employed?

Hi gavin and welcome

IVAs were originally created for the self employed so it shouldnt be a problem.
I would suggest speaking with Melanie Giles who posts on this forum. She has dealt with a lot of cases with self employed people.
Shes on holiday for the next few days but you can find her details on the experts page and drop her an email. She will be sure to contact you on her return.

Hey gavin, welcome to the forum. IVAs were originally set up to help self-employed people. Are you a sole trader or limited company? If you are a sole-trader and you can take regular drawings from the business then an IVA may be suitable, you would have to include all of your unsecured debt, personal and business. If you are limited then it would be just your personal debt unless you had personally guaranteed any business debts. Either way, your business needs to be a profitable one to afford the payments.

There ARE other options, if you can post a bit more info the experts may be able to advise you. Good luck, Viki X

Sorry Mrs Skint, I'm a very S L O W typer!

Hi Gavin

I am a sole trader and have just sucessfully managed to get an IVA approved.
Being self employed and sorting out an IVA is a very complex process and you really need an expert to help you deal with it and not, shall I say, any of the big companies that bang out hundreds of IVA's every month.
I don't know anymore about your situation, but being self employed is stressful enough let alone having a large amount of debt.
If I can be of any help give another post.

Little ted