eBay takings

[The Stones]

Hi all.

Just a quick Q

I'm selling items on eBay at the moment to try and bring in a little cash. (My car is going downhill slowly, and I know I'm going to end up with a nasty bill soon.)
My Q is....If I make a fair amount on eBay then transfer the money to my current account will my IVA company want 50% of the takings?

My reaction is no, because i'm selling my own goods to make ends meet. But who knows?[?][?]

Thanks for your time peeps!



"Don't worry be happy" [:)][:)]

[cr15py]

Hi the_stones.

If you are "decluttering", then I cannot see a problem. If you have bought things to sell on at a profit, then you probably would have to account for ALL the income (less expenses) as you are trading.

As you are selling your own goods, then I suspect you are OK to keep everything to spend as you wish.

Chris

Visit my blog at http://cr15py.blogs.iva.co.uk

[The Stones]

Yes we(me) are de-cluttering. We are due a move from the area in next 6 months. I'm trying to sell some things that we really don't need. It's amazing what you find when you delve deep into thoses spaces you forget all about!!!

Thanks for your reply.

[cr15py]

One of the experts will confirm for certain, but I think you are OK to keep the money.

Chris

Visit my blog at http://cr15py.blogs.iva.co.uk

[Adam Davies]

Hi
Yes Cr15py is correct,you can keep it all,it's no different to doing a car boot sale
regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[The Stones]

Thank you guys.

I thought as much but better to be safe than sorry.

Watch out eBay, here I come!!!

THANK YOU!

[MelanieGiles]

On the point of the car - if it was specifically excluded as an asset, then it is yours to do what you want with it.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[The Stones]

Thanks everyone.

Melanie.
The car?
It isn't classed as an asset, but what I meant was that it isn't going to last much longer and will need repairing, hence trying to sell things on eBay, not the car, hell no.
Thanks again for all input received.

[Martin2011]

Ebay's a great way to exchange things you no longer want/need for cash that always comes in handy... I try to sell a couple of bits and pieces monthly and transfer money whenever there's more than £50 in paypal (cos paypal don't charge then)....

Tis a great way to fund an occasional treat for the kids...and I did check with my IVA company and they say it's not a problem...

Martin

[The Stones]

Thanks Martin

I have alittle more than £50 in paypal but i'm trying to sell more and save it for the times we do need something. I know it takes 7-10 days for it to show on our account once transfered, but if you know your going to need it then you can plan. I was just worried incase my IP saw the income of paypal on my statements and ask for 1/2. My IP company are not very approachable either.
I'm very arty crafty type of person, so i'm putting together lots of kits to sell. I'm also saving for a waterproof jacket that i've wanted for over 2.5 yrs now, it's only £150 but it feels more like £1500, there's always something that little bit more important. I think everyone should go and raid their cubby holes, you'd be amazed what people put away and forget about (or is that just me?).

[Adam Davies]

Hi
Idon't agree with what DFD have said and would think that you have spoken to someone who is not your actual IP.
There is no problem with selling household items on ebay and certainly no reason to hand the money to your IP
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp