www.iva.co.uk

How many people need to know that i apply for and IVA.I would like to pay my debts sooner than go bankrupt.

Vicki...it is up to you who you tell. My IVA was approved in Nov. the only people that know are obviosuly my debt man company, my IP and creditors...no one else knows.

Hi Vicky

An IVA is a simple contract to repay your debts, and the parties to that contract are you, the insolvency practitioner and your creditors. Apart from that, there is no need for anyone else to know.

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

I must add that if you are a joint property owner then the other joint owners will need to know because of the probable equity release that will be required in the 4th year of your IVA.