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Posted: Thu Aug 07, 2008 12:58 am
by h.s
If i make an IVA are you allowed to stay as a director of a company and are you allowed to send your child to a private school. Also what about credit cards?
Thanks
Posted: Thu Aug 07, 2008 1:01 am
by drowning-mummy
Hello and Welcome,
I believe that you can be a Director, but a big no-no to credit cards. In fact no credit of any kind. As for Private schooling, I would guess no, but I really don't have a scooby!
Keep posting. Forum is full of invaluable advice within minutes.
Posted: Thu Aug 07, 2008 1:14 am
by pixie
Hi h.s and welcome. as dm says, director yes, credit cards big no! As for private schooling this could be built into the iva but your creditors would need to agree. Your ip could make a case for this being a necessity in order not to disrupt the childs education.
Posted: Thu Aug 07, 2008 1:37 am
by MelanieGiles
Creditors are generally not supportive to private education, unless your child is at a critical stage - ie in exam year. You can remain a director of a limited company, as the other posters have mentioned.