Posted: Sat Feb 24, 2007 9:28 am
if you had the chance to start your own buisness within the 5 year period of the iva would you be able to take an secured loan or get an overdraft if this buisness was going to give you a greater income
Hi sall and welcome to the forum
Potentially yes - but only with the express agreement of your Supervisor who will want to see a business plan showing how you intend the business to trade. You will also need to find a lender prepared to give you the money (generally not a problem) and maintain your contractual level of IVA payments.
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