Page 1 of 1
Posted: Thu Jan 25, 2007 9:53 pm
by ofl
can you get an iva whilst in business, if the business is struggling and needs help to kep running.
Posted: Thu Jan 25, 2007 9:55 pm
by MelanieGiles
Hi ofl
Absolutely. Funnily enough, when IVA's were introduced in the mid-1980's they were primarily for self-employed owners of businesses.
Do you think you need to propose an IVA to your creditors?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
Posted: Thu Jan 25, 2007 10:27 pm
by iva_squirrel
Good evening,
Yes, you can. Unlike being declared bankrupt, there's no limit on your business activities.
An IVA is not Bankruptcy, therefore you are able to continue as a director in a business. Also professional license holders are able to continue practicing. Partnerships can also continue to trade, and because the IVA is a private agreement, your employer will not be informed.
Kind regards,
Julia
For more information about IVAs, please visit my website:
www.supersonicsquirrel.net