How will the IVA affect my business ?

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

Jorden Andrew

Joined: 09 Jun 2009
JordenAndrew's page
Posts: 12

379 Magic Points

Subject: How will the IVA affect my business ?

Mon Jul 13, 2009 7:30 am

Hello All Members,

I run a business.

How will the IVA affect my business ?

Please share your suggestion here...
_________________
Debt Management||IVA Advice

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Mon Jul 13, 2009 9:21 am

Hey Jorden!

If you choose to put forth a proposal for IVA, you may add a request to continue trading. Whether you will be allowed or not will depends on the fact whether it would be practical to do so. However, if you propose IVA, your business finances may be revealed to your creditors in full. If so, then make sure that the previous problems that are solved reflect on the documents. This will help you prove that your business is still viable.

You can continue trading as normal if you have had assets that you could liquidate. Any creditor would prefer that you continue earning to be able to pay off the debt. So, look in the pros and cons before proposing IVA. Having your finances laid bare would be the last thing you'd want your business to go through.
_________________
Keep in touch
Carol

Jorden Andrew

Joined: 09 Jun 2009
JordenAndrew's page
Posts: 12

379 Magic Points

Thu Jul 16, 2009 5:45 am

Hi,
carol
I think your opinion share here is very informative for me

Thanks ....
_________________
Debt Management||IVA Advice

carol

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Thu Jul 16, 2009 10:51 am

You're welcome Jorden Smile

I am glad I could help. If you have more questions to ask, feel free to do so Smile

_________________
Keep in touch
Carol

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

Home|Contact Us|Terms of Services|Privacy Policy|RSS

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.