my husband is self employed, van courier, does own vat/tax, has his own accountant etc..he is a sub contractor for office depot, so he does not use 'customers' as such. He delivers on their chosen round. we have joint debts, and both have massive credit cards, (for example both have just one each with £15,000 on each)...but his main bug bare is - his van loan runs out in 4 months, his current van (54 plate lots of miles on clock, already spent loads of cash on it ) wont last another 5 years, he will need another van within this time scale - and NO one seems to want to answer my question of will he get granted a business loan for a van if he has an IVA ?....
I don't know how he would get on with replacing his van whilst in an IVA.
I do recommend that he speaks to an IP as soon as possible, there are several who specialise in dealing with the self employed.
Visit www.iva.com for a list of companies and reviews. The advice is free and impartial. Give one or two a ring but do make sure that they are experts with the self employed.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Your IP should have no problem with him getting a van if he can obtain finance. However, it may be better to do it now before the IVA starts as his credit file may not be too damaged. He could also look at leasing a van and as Liverpig says a family member could take the loan and he pay the debt back.
