will I be able to continue my franchise

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jake.l

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Post by jake.l » Thu Apr 10, 2008 8:44 pm
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I am an aa driving instructor paying a weekly franchise fee, if I take out an iva will I be able to continue my franchise as this is my job.

Also can you tell me if i qualify for an iva because im not sure if I have enough creditors. I have two bank loans and two credit cards but one of the loans is lloydstsb and one of the credit cards is lloyds so do they count as one creditor or two. I believe you need four creditors to be able to apply
Last edited by jake.l on Thu Apr 10, 2008 8:45 pm, edited 1 time in total.
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Reviva UK

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Post by Reviva UK » Thu Apr 10, 2008 8:47 pm
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Hi Jake

probably get the absolut answers from Melanie of Ian, however I would suggest you get a copy of your AA franchise agreement and have a quick look. The IVA is certainly private so I don't believe it would be necessary to advise them.

Provided you have 3 creditors you will be fine.

What is your level of debt and have you any disposable income?
Paul Johns
Reviva UK
Assisted Bankruptcy Specialists
www.revivauk.com
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Adam Davies

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Post by Adam Davies » Thu Apr 10, 2008 9:41 pm
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Hi
If you have at least two creditors with three lines of credit then an IVA is possible
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Thu Apr 10, 2008 9:56 pm
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How much do you owe in total to your creditors, and how much are your overall debts?
Regards, Melanie Giles, Insolvency Practitioner
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jake.l

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Post by jake.l » Fri Apr 11, 2008 9:52 am
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Reviva UK wrote:

Hi Jake

probably get the absolut answers from Melanie of Ian, however I would suggest you get a copy of your AA franchise agreement and have a quick look. The IVA is certainly private so I don't believe it would be necessary to advise them.

Provided you have 3 creditors you will be fine.

What is your level of debt and have you any disposable income?
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