Posted: Thu Jul 05, 2007 11:49 pm
by GaryV
Currently have £56k in debts through ploughing money into my business. Considering an IVA, however 10 years ago I went bankrupt, will this have any effect in obtaining an IVA ? Debts are built up via bank loans, bank overdraft and credit cards.
Posted: Thu Jul 05, 2007 11:51 pm
by MelanieGiles
Hi GaryV
No - your previous bankruptcy does not preclude you from entering into an IVA now, but your IP ought to disclose this to creditors within the proposal documents. I have personally presented a few similar proposals in the past with little difficulty.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
Posted: Fri Jul 06, 2007 10:42 pm
by iva_squirrel
Good evening GaryV,
As Melanie says your previous bankruptcy would not stop you from entering into an IVA. Could you tell us who your creditors are and are you a home owner?
Kind regards,
Julia Simavi
Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007
View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp
Visit my website:
http://www.supersonicsquirrel.net
Credit Today Awards 2007
http://www.credittoday.co.uk/awards/winners.htm