His borrowings were for his business, he was a retailer/sole trader - everything was in his sole name - I work myself, and I have my own finances, my own bank account, my own borrowings and I support myself - it was because his business failed mostly due to a car accident (long story) he has the debt problems.
I havent benefitted at all - in fact I think it is probably the other way around!!
But as the suggested IVA figures will mean that the creditors will each get a share of £18,000 - is it plausible that they would accept a final payment of £ 18,000 upfront instead of having to wait the 5 years? If it would work that way then Im thinking lets just try sell the house and pay them? Or doesnt it work like that?
Stell
