Using credit before an IVA

If you suspect that you may be insolvent, you might be considering entering into an IVA or even petitioning for your own bankruptcy. Certainly if you have been defaulting on repayments of unsecured loans and if you have only been able to make minimum payments on your credit cards or store cards, there is a good chance that you are indeed insolvent. One definition of insolvency is the ‘inability to repay your debts as and when they fall due’. Continue reading