can you get an iva whilst in business?

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ofl

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Post by ofl » Thu Jan 25, 2007 9:53 pm
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can you get an iva whilst in business, if the business is struggling and needs help to kep running.
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MelanieGiles

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Post by MelanieGiles » Thu Jan 25, 2007 9:55 pm
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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
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Thu Jan 25, 2007 10:27 pm
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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
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