Self Employed IVA
IVAs were created in 1986 specifically for small business owners with cash flow difficulties. The first year that IVA’s were introduced there were only 11 in total that were sold. Now there are around 250,000 people in England and Wales who have signed up to IVA Arrangements
A Self Employed Person who is considering an IVA as a debt solution must face true and sometimes challenging facts about the business they operate. You have to be honest about the position you are in and whether or not there is realistically an opportunity to trade your way out of debt with your business.
In order for Self Employes IVA’s to work the business owner will have to produce a business plan in order that creditors can see for themselves that the business has a good prospect of completing the arrangement.
Although it may be the last thing that you want to do, it is often a very good way of identifying the weaknesses in your business. is to provide you with the information you need to make an informed decision.
Our objective is to identify on your first call with us exactly what is going on and attempt to identify what and when its gone wrong. Our priority is to make sure you understand what is involved in the process and what
steps are needed to make certain things happen that need to happen. It may be that you are married or in a relationship where the family unit is at risk of losing the home or assets that would be uncomfortable to lose. The facts are that all sorts of people get into all sorts of financial complications and simply cant see the wood for the trees. It is not uncommon for people to feel totally depressed and not want to face the world because they simply cannot see what they can do to make a difference. They feel like giving up.
This is natural but if you are in that position or moving towards that position then we want to hear from you. Our experience in Business and financial survival is all about making mostly small adjustments that make a significant difference.
If we need to write or contact a particular creditor to release the pressure or get you more time then we will do this without delay.
If you have time then you can make more relaxed decisions and communicate effectively with the people around you that need it. You have to be able to adapt and work quickly to action what needs to be done.
Bankruptcy UK has been helping the British public with bankruptcy since 1998 and will guide you through the process step by step. We will avoid jargon and confirm all discussions by email within 30 minutes. Call us for a chat about your circumstances on 01425 600129.