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Sue Grant
Sue Grant December 02, 2011 20:22

Two IVAs

Can I have two IVAs at the same time ?
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  • Dave Howard EMPLOYEE
    Dave Howard (Employee) December 06, 2011 15:19
    Ultimately, you will not be allowed to have a second IVA.

    To be honest, I have never been asked this question so it will be interesting to learn why one would want a second IVA?

    As you know when a proposal is drawn up, the IVA contributions are calculated using your income and expenditure so they are affordable to your situation. As such, you would not have any spare money to service another IVA.

    This leads onto the point that if you are now in receipt of additional income, you have a duty to your Insolvency Practitioner and creditors to disclose such money, within 14 days of receipt.

    I am not familiar with your case or the reason why you’ve asked this question, but if you need any further advice, please do not hesitate to contact the Supervisory Team.

    David
    Comment
    good answer! good answer! (undo)
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