Just another question for you all - I’ve spent some time researching first before asking but as usual - lots of opinions and differing ideas!
If you are a sole trader and are on an IVA and then you incur more debts within the business and probably need to sell up, do those debts you incur after your Iva has started go into the IVA or do you have to manage them outside of the IVA on your own? Obviously you don’t have much disposable so you couldn’t really do that?
Anyways that’s all and thanks for any advice!
What sort of money are we talking about ?
You are probably in breach of your IVA if you have taken on credit.
What do the debts relate to and how much are we talking?
If you are getting into debt it suggests the business is not profitable (unless the issue is you personal expenditure).
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