www.iva.co.uk

I have been in an IVA and kept up my payments etc for two years. However I was a director of a company which went in to compulsory liquidation. I am now being pursued for by the Insolvency Service for the debts of that company and being taken to court to be disqualified a s a director.

I had no idea of this as I had resigned prior to the company going in to liquidation. Will my IVA cover me for this? the alternative seems to be bankruptcy as I have no money or assets.

Hi Phillip and welcome to the forum.

I've no idea how this affects you or your IVA, hopefully one of the experts will be along shortly to advise.

First of all it has to be proven that you are liable for these debts, so I would ask for evidence of this from the liquidator. If you are rightly responsible for them, then it is possible that they may be included in your IVA, although your Supervisor may be concerned as to how this will affect the dividend that you have pledged to your other creditors.

If you are eventually disqualified from acting as a company director, this will not affect your IVA - unless your income is derived from acting as a director of a new company.