Personal insolvency IVA

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  • Retail experiment became loss making
  • Unable to fund repayments on small property development
  • Self-referred as known from previous work


Having been a successful professional advisor in her own right our client had set up her own small business relating to her hobby and developed a small property to operate from. She experienced problems developing the product which delayed sales and therefore income and the property loans could not be serviced.

The problem

Debts built up which could not be paid and our client took the decision to try to sell the business. She wanted to return to professional work and given this did not want bankruptcy.

The solution

We marketed her business on and received interest in the concept arranging a sale of the business with a consideration payable on a percentage of future sales. Knowing the area and local property contacts we identified a purchaser who had a special interest in the property and paid a premium value to her. Rather than the equity that premium and the payments linked to turnover over a period of three years were sufficient to fund an IVA on her debts which creditors accepted.

The difference

Through our local contacts we were able to dig her out of a difficult situation obtaining value for the business and assets which would ordinarily have been abandoned. Discretion and discussion with the creditors enabled the IVA to be approved. She was able to return to her previous professional work with no publicity regarding her failed business venture. Everyone is entitled to dream and some dreams don’t come true but knowing that it might be possible to return to your previous livelihood should make trying to pursue your dream less risky.

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