will IVA effect my ltd company in any way?

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ste

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Post by ste » Tue Feb 20, 2007 9:08 am
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if i go with IVA will it effect the company secutary in my ltd company in any way? i.e. been linked to me? (the company has no debt) also what sort of rate will a morguage have if i have an IVA? Will it be compleatly off my record after 6 yrs
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MelanieGiles

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Post by MelanieGiles » Tue Feb 20, 2007 9:51 am
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Hi ste

No the IVA will not affect your limited company providing you have not personally guaranteed any of the debts. If you have, then these creditors will need to be notified of the IVA, as they are potential contingent credtiors.

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
Regards, Melanie Giles, Insolvency Practitioner
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MelanieGiles

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Post by MelanieGiles » Tue Feb 20, 2007 9:52 am
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Just to finish that one, you would need to take specialist advice from a mortgage broker with regard to interest rates, but expect to pay between 0.5 and 1% in excess of prime rates if you have an IVA on your record.

The IVA will remain on record at the credit scoring agencies for 6 years from the time it commenced.

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
Regards, Melanie Giles, Insolvency Practitioner
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