IVA advice

luckyluke7

I had a failed business and thanks to personal guarantees I now have nearly 800k of debt. Obviously bankruptcy sounds like the answer but I have 2 other limited companies that are doing ok and I don't want to give up being a director of these businesses.
I also have a mortgaged property (Tennant in common) with my partner. Would you say an IVA is my best move?

On-the-coast

I think you need professional advice. 

Also look at CVA (not IVA) if limited companies. 

Grumpelstiltskin

These are the people to contact for advice.

Debt advice | Free Debt Advice and Support | Business Debtline

Do not be taken in by any IVA company, be 200% sure you are doing the correct thing before you jump.

ManyWays

On-the-coast said:

I think you need professional advice. 

Also look at CVA (not IVA) if limited companies. 

I don't think a CVA will help where there are personal guarantees. Business Debtline can confirm this.

An IVA may be a good option but with such a large amount of debt, there will have to be a pretty large monthly payments to get the IVA to be approved by the creditors, especially if there is a lot of equity in the property. 

You do not want to talk to a large IVA firm, this is not a cookie-cutter IVA; I suggest you need a specialist firm of accountants, sorry no recommendations