Newbie Considering IVA

ratter57

Hi Guys , New to the forum and going through all sorts of embarassment and regret that i find myself in the situation i am in but i am sure that is the norm:( .I wont bore everybody with my situation just yet but i am sure i will have various questions in the future. My initial enquiry is regarding the IVA register, and can you avoid being entered on it. My wife and i are mortally ashamed to be in the position of considering an IVA but feel that we must do something to halt the slide.My wife has begged me to avoid bankruptcy and anything else that would put our plight in the public domain, which i thought IVA would avoid but lo and behold i have today discovered there is a register open to the public at the click of a button. Is this an unavoidable consequence of our plight or can it be avoided.

Thanks in advance

Tixy

Hi and welcome to the forums

If you enter an IVA then unfortunately it cannot be avoided no. Is it likely anyone would search for you to see if you were on there?

Have you spoken to one of the debt advice charities? if it really is a big issue or no go for you to be on the insolvency register then have talked about the possibility of a DMP with the charity and whether that would be viable in your financial circumstances.

A DMP is an informal agreement and so isn't recorded anywhere.

ratter57

Hi , thanks for your reply , we are currently in early discussions with step change , i have an initial telephone appointment booked for next week. Naturally i will discuss my options with them and indeed if a DMP is more suitable for me then that is the route i will try to go down, i just was trying for a heads up on the register issue so to calm my wifes concerns. I may , in fact will be back for more in depth info very soon , thanks for now .

sourcrates

Hi,
I have just finished a 5yr IVA, and yes unfortunately you do go on the IVA register, but, how many people will actually try to look up your name, certainly your friends and family wont, unless you give them reason too, I have been quite anonymous on there, no body has come up to me and said "saw your name on the IVA register last night na na na na na" it just doesn't happen, if you don't tell anyone your in one, theres no reason for anyone to look, and so what if they do anyway, everyone has secrets, whatever they may be, if an IVA is right for you go ahead and do it, never mind what anyone else thinks, if you want to avoid the worry altogether just tell everyone anyway and the problem will be gone, you find if you make the 1st move it takes all the suggested stigma away and puts you in control.:)

ratter57

Thanks for all the replies , i take on board all you are saying and to honest i dont give a fig if somebody decides to look on the register and find me there , however , i have respect for my wifes concerns and peace of mind so i will have to give it all some serious thought, maybe a DMP is a better option in terms of anoninimity but i am not entirely sure a DMP is best for my circumstances, i am sure the guys at Stepchange will guide me , thanks to all.