meeting with ip

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kezza

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Post by kezza » Fri Dec 08, 2006 6:47 pm
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Hi all,
Just got back from a 330 mile round trip to meet with my ip. I have just learned that my business will be involved in the iva process, I was hoping to be able to keep them separate but because i have an overdraft with my business account I have to include it [:(] C'est la vie!
THE ONLY WAY IS UP :-)
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Dominic

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Post by Dominic » Sat Dec 09, 2006 3:05 pm
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yes that is correct every debt you have has to be included otherwisre the IVA will fail or not be accepted.
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kezza

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Post by kezza » Sat Dec 09, 2006 7:42 pm
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Yes if I was a ltd company it would have been ok but as I'm a sole trader that is not the case.
THE ONLY WAY IS UP :-)
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iva_squirrel

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Post by iva_squirrel » Sun Dec 10, 2006 7:53 am
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Hello,


An IVA is available to all individuals, Sole Traders and Partners who are experiencing creditor pressure.

Unlike bankruptcy procedures, there is no restriction on your business activities.

IVA is also often used by sole traders and Partners who have suffered problems with their business but wish to secure its survival as they believe it will be profitable in the future which will enable them to make a greater repayment to creditors than could otherwise be expected were they made bankrupt and the business consequently cease trading. Every debt you have has to be included otherwise; the IVA could fail.


Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net
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