would i be able to register self employed on IVA

[prigi]

There is a chance i will lose my job this week at a disiplinary hearing, i have a level of debt that has been worrying me for some time and i`m thinking this could be the kick up the backside i need, there are a few points to consider:

1) i am living at home with my parents, and i don`t want my situation to anyway impact on their credit as they recently had issue with an endowment shortfall and has led my father having to forget early retirement, but otherwise they are Very financially secure, i don`t want to affect that.

2. If i lose my job i can find another pretty easily which pay £200-300 per week via an agency due to the number of industrial estates locally, and my experiance working with one of these for the past five years that turn over staff at alarming rates,

3. my other option of employement is through my friends contruction company, and due to recent flooding is overloaded with work and practically begging me to work for him Unfortunately he `employs` on a self employed basis only, therefore would i be able to register self employed on an IVA or other method of debt clearance.

4. the reasons for my possible dismisal are on grounds of attendance as i took time to train for entry into the army, which had to be deffered due to this debt, i have been told that in order to gain entry i must reduce my debt to below £235 per month

5. my only assets are

A second hand car worth less than £500

instant internet saver account £200

an E-ISA £150

Sharesave scheme with my current employers worth £450 and £400

The second sum (400)is worth more than double as the price those shares are guaranteed at was when the company value was extremely low (Wm Morrisons Supermarkets)


I`m lost HELP!

prigi

[iva_squirrel]

Hi prigri,

1) an IVA wont have any impact on your parents credit but i would suggest as your living with them you should be upfront and tell them about your current situation. Who knows if they are willing to help you?

2) as long as you can provide an income during the length of an IVA you wont have a problem.

3)you can definitely be self employed and be in an IVA the same rules apply to self employed people who have as much right to propose an IVA as the others.

4) if you are thinking about an army career you should ask the recruitment department about the impact an IVA could have in their decision,

5) any pension schemes you have will have to go into the IVA, however if your going to be looking for a job you might as well spend it before entering the IVA.

Regards,
Michelle P.