nearly 4 years into a 5 year IVA

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ian.on

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Post by ian.on » Fri Sep 03, 2010 3:53 pm
Hi,
My wife and I are nearly 4 years into a 5 year IVA, with a #12000 one off payment at the end, via a remotgage with
(GT), and would like to know if you can run a Limited company, whilst in one, and also having been discharged Bankrupt in 1997.
Also, what happens with the final payment amount should I not be able to raise that on a remortgage ? thanks
 
 

Shining

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Post by Shining » Fri Sep 03, 2010 6:28 pm
Hi there Ian, I would think that a remortgage is pretty much impossible at the minute and therefore a years extra payments seems the norm at the minute.

I'm not sure about the limited company but someone who does know will be along very soon. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

liamjames

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Post by liamjames » Fri Sep 03, 2010 6:40 pm
There should be no problem running a Limited company from within an IVA - just inform your IP and make sure that you submit your accounts for review.

As Lesley says, you are normally able to extend the Arrangement by 12 months if you are unable to remortgage. Again, speak to your IP about this as depending on the equity anticipated, your situation may be different.
Take care,

Liam James
Varden Nuttall
http://www.vardennuttall.co.uk

Read our reviews here: http://www.iva.com/iva_companies/Varden_Nuttall.asp
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