Iva and bankruptcy query

larzie30 · 22 November 2017 at 1:20PM

Hi there

I was wondering if you can get an Iva if you have previously been bankrupt.

Thank you

Lara

bewildered1 · 22 November 2017 at 2:19PM

You can get an IVA at any time before discharge, currently 12 months from the date of bankruptcy. After this time you will not get an IVA.

If you mean can an IVA be given to someone that has previously been made bankrupt and has been made bankrupt again, then yes an IVA can be given within 12 months of that second bankruptcy.

larzie30 · 22 November 2017 at 3:53PM

The situation is that the person was discharged from bankruptcy in 2009 but due to ill health is now in financial difficulty and is wondering if previous bankruptcy would preclude them from setting up an individual voluntary agreement under these circumstances

tigerfeet2006 · 22 November 2017 at 10:04PM

No it wouldn't. Tell him to get in touch with National Debtline and to go through his difficulties with them. If he would like support with going into an IVA and to talk with people who have been through or are going through the experience then he can chat to the lovely people on the IVA and DRO board.

http://forums.moneysavingexpert.com/forumdisplay.php?f=159

Iva and bankruptcy query

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