i live at home and are considering an iva

[adam.t]

i live at home and are considering an iva, i do not wish my parents to know. my parents own their home, will it effect them in any way, and will they find out about it.
thanks

[MelanieGiles]

Hi adam and welcome to the forum

There is no reason why your parents would find out about your IVA, but in the long run you would probably be better sharing this with them as you may need their support. An IVA is unlikely to affect their credit rating, or their property.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[iva experts]

Welcome to the Forum Adam,

It is a very low chance that your parents will find out that you are in an IVA, as this will not affect their credit ratings or their property.

When you enter an IVA your name is listed on the Insolvency Register, this is a public register, however only a small percentage of the public know if its existance.

My advice would be call 2 or 3 debt solutions companies to see if an IVA is best for you. This way you can be certain that you are being advised correctly.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[nic_23]

Hi Adam,
I also live at home and just had my IVA approved yesterday. To begin with I was going to not tell my parents and just go through it alone. Im so glad in the end that I did. Yes at first they went mad and did a bit shouting and screaming, nothing nasty just how stupid id been but I think more than anything they were upset because I hadnt gone to them sooner,they said they would have helped if theyd known, but obviously it was so bad now it was out of there hands. In the end im glad I did tell them because I definatly had a massive increase in letters through the door and about 6 or 7 telephone calls a day from my creditors. In the end they would have found out something was up. Theyre your family and they love you and im sure once they get over the initial shock of it they would be fine and support you. My mum helped me draft my letters and work out what i needed to live on and such,and fielded some of the calls for me.
In the end im so glad I did tell because 5 years is a long time without support.
I hope everything goes well for you.
Take Care
Nic x