does any one know if you can start up a business if you currently have an iva?

i would really like to know if its possible to start up a busineess whilst on a iva or if not when ive finished the iva?

if you have aIVA you are pretty much written off from everything. even though it may end, a record is still eaily available and even a credit card will be a nightmare.
you'd best find a good friend to be the face of your business.
and writing off debt like that is such a cowardly way out, we tax payers fit the bill you know!

If you could explain what the abbreviation IVA means I may be able to help you?. Why do people needing assistance presume that those most likely to assist them use the latest slang instead of real meanings. I'm sorry I would genuinly like to help but to me IVA sounds like a method of birth control?. If you tell us what it stands for we may be able to reply. I will wait and help if I can.

What is a iva (Leave of Absense). You can start a home business any time you wish. Your employer may not like it, but I would say don't ask him/her.

Of course! But only if you can start the business on a shoestring, run it on a shoestring and then make pots of money .... that way you can give a dividend to all the creditors that have you owed money to in the first place. Make the world a nicer place and pay your debts before you think about borrowing more!

If you have an IVA then you clearly have problems managing money. How do you expect to run a business if you can't even run your own personal finances?

OK - thats sounds harsh. But that is the view the banks will take if you want a business bank account. And without a business bank account how can you have a business?

So, although it may not be illegal to start a business if you have an IVA, in practical terms it's going to be close to impossible.

It seems all the other people answering your question want to judge you or are to ill informed to give you an answer you could be confident in. The fact that you are in an IVA does not restrict you from entering into self employment.

Points to bear in mind are practical ones.

1. Be sure you can "pay as you go" as credit is not allowable within the terms of your IVA.
2. Your IVA will fail if you fall behind on payments so be confident that you can maintain a similar level of income.
3. If you are successful and your income improves your IVA supervisor (IP) will expect a higher contribution to pay to creditors.

There is an article on this website

This link is hidden. Please JOIN FREE and LOGIN to view this link.

which talks about IVAs and people who are self employed, follow this link to see it.

This link is hidden. Please JOIN FREE and LOGIN to view this link.

You can always contact your IP and ask these questions but that is a formal contact and will be recorded. The advisers at myIVA-Adviser.com know their stuff so a phone call to them may well help on an informal basis.

Good luck

someone subject to an IVA has all the limits on them a bankrupt does, so the 2 that will kill this are -

1 - no credit without the creditor knowing you are subject to an IVA, and I think you have to tell your administrator as well

2 - you can be a director, so you cant do it as a limited company.

either way, you aint going to be able to until the end of yuor IVA.

Hi. My partner and I are currently in an IVA (Individual Voluntary Arrangement). We are 12 months away from completing it successfully. It's unfortunate to see comments on here from some ill informed people making judgments upon you when they nothing about your circumstances.... Daily Mail readers no doubt! If they want to 'make the world a better place' they could try moving to Mars :) I'd say you are purely looking to better yourself and that can only be a positive thing. We too have been considering starting our own business and have been researching different potential routes to gaining some finance to support this. Once we have found out more I'll let you know if and what the options are. Don't give up on your aspirations... where there's a will there's a way!

Hi guys


1. What is an IVA?
2. How long does an IVA last?
3. Who can an IVA help?
4. How much does an IVA cost?
5. What happens when an IVA is finished?
6. What happens if I default on IVA payments?
7. What are the advantages of an IVA over bankruptcy?
8. Can I set up an IVA if a bankruptcy order has been made against me?
9. How do I set up an IVA?
10. Will I have to sell my house if I set up an IVA?
11. Will my creditors agree to an IVA?
12. If I set up an IVA will anyone interfere with the running of my business?
13. Does an IVA affect my credit rating?


Thanks for all friends