Second IVA

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worriedworried86
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by worriedworried86 » Tue Oct 31, 2017 1:25 pm
Hi, is it possible to have a second IVA once the first is finished? I seen there was a topic back in 2012 however wanted to open it up again to see if it's possible to have a second one.

Under some pressure - and after a family illness fell into some debts again.

Thanks

Would also appreciate some recommendations on best companies to use.
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Foggy
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by Foggy » Tue Oct 31, 2017 1:42 pm
Hi -- yes a second IVA is possible, but you might have to explain the reasons for the slip up again -- maybe a bigger slice of humble pie.

I am not allowed to recomment specific firms, but I am sure the members can share their experiences with you. A look around the forum will reveal the goodies and baddies. Personally I would suggest you chat to a couple of firms to see who you gel with. I would also say go with the smaller firms, rather than the "IVA factories" ... and ask if you could speak to the IP if needed during the term ( some firms feel the IP is above client contact ! ).
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luluj
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by luluj » Tue Oct 31, 2017 7:09 pm
A second iva is doable as foggy suggests. I know how easy it is to get into debt a second time around - due to changes to our circumstances I have recently found it necessary to juggle our finances bringing back sleepless nights and worry.
Luckily for us on this occasion we have significant equity in our home so cleared our build up of secondary debt with a re-mortgage....
Speak to a few companies; be honest and explain why it has happened - am sure they will listen and offer support.
Let us know how you get on.
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Lisa Thomas
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by Lisa Thomas » Wed Nov 01, 2017 1:00 pm
Yes its possible. Whether it is the best option will depend on your circumstances.
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