Help-New debt whilst in IVA

[SharonR]

Hi

I am really stressed. Just arrived home to find a bill on my doorstep from when we were in our pub which was a year ago.

We left the pub thinking we had no debts with the brewery and our area manager told us that if we owed anything that we would be sent a bill within the next couple of days.

Now 1 year later we have recieved a bill for £5,255.

I have been in an IVA on my own since jan this year as my husband has no debts. This bill is in both our names even though I was a sole trader in the business and my husband was employed by me.

We cannot borrow any money from our family as they do not have it.

Can anyone offer any help as all the pre IVA stress has now come back.

Sharon

[aguise]

Hi Sharon. The best thing to do is ring and speak to your Ip about this. It is no your fault you were not aware of he debt. I am not sure what they will do but i think it can be added if 15% or less of the total debt or by variation, but may be wrong so wait for other answers. Try not to stress though.

Ang x

[SharonR]

Thanks Ang
I really am stressed, why do things happen just as things start getting easier.

I am going to query the bill anyway as they are charging us for things that we should not be paying for.

Sharon

[aguise]

Try not to stress sharon, but I do understand. I think the sooner you speak to your Ip and know how to sort things then you will feel better. I would definately query it and make sure they have things right it could be a mistake, and certainly if they are things you should not be paying for.

Ang

[MelanieGiles]

Hi Sharon

Under current insolvency legislation, you will probably find that the debt can be included in the IVA in any case, but do consult your IP for their own view. It is interesting that your husband has been named as also responsible for the account - has he ever held himself out to be a partner, ie by signing cheques or ordering goods? If so he could be liable for the debt, but this is a complicated area of the law so you might need to take specialist legal advice on that point.

[SharonR]

Hi Melanie
Thanks for the advice.

I think my husbands name is on the info from the brewery just because they used to speak to both of us when we first moved in.

My husband has never in any way been a partner in the business, which I can prove via my tax records and his wage slips etc. He has also never had any financial control on cheques or anything similar.

Do you think this may cause a problem?

Thanks
Sharon

[MelanieGiles]

No - I think that his position is very clear and that he was not involved in your business at all. Make sure that the brewery are clear on this point, and if they were the landlords they will know rightly in any case.

[SharonR]

Thanks Melanie
I feel a little better now. I will get the ball rolling tomorrow with my IP.

I have felt so stressed tonight is was like going back to my pre IVA days. Hopefully everything will be OK.

Thanks for the help I really appreciate it.

Sharon X

[MelanieGiles]

Glad to help and make sure you let us know how you get on.

[SharonR]

Hi
Just thought I would let you know how I got on.
Telephoned payplan today, and they said it should not be a problem to add the debt to my IVA I just need to send them the paperwork etc.

Also they said if the creditor insist that it is a joint debt, it would not coause a problem with my IVA and they may have to get a contribution towards the debt from my husband as well.

Does that sound correct?

Sharon X

[aguise]

Thats great Sharon.
Hope you feel a bit better now. Always best to speak to your company, I find that usually puts my mind at rest and if not at least you know where you stand. All the best.

Ang

[SharonR]

Hi Ang
Thanks, I do feel better but still got a headache from stressing last night!

Sharon X

[debbiw]

Glad you got it sorted Sharon x

[SharonR]

Hi All

Just thought I would update you on the debt that wasn't included in my IVA.

It seems to be taking Payplan a while to sort something out with my IP and as such I have now recieved a court demand from Derby County Court for the debt.

I have spoken to Payplan this morning who have said they just need to finalise the figures to see if it can be added to my IVA, and they will call me on Monday!! (Stress!!!)

My actual debt at present is £61500 (covered by IVA), the amount I owe on the new debt is now £6017.17 which has increased because of costs. My chairmans report states: 'Where the actual value of debts and liabilities exceed 10% or more of the estimated value supplied by the debtor, for the purpose of the proposal this will consitiute a breach of the agreement'.

So, what does everyone think? Do you think it will be included in the IVA and also what happens if the IP will not include it - will I have to pay it seperately or go bankrupt.

What a stressed weekend I am looking forward to!!

Any comments appreciated.

Sharon. X

[Phil]

Well according to my calculations that ammount is 9.7% to be added to the actual debt,So you are in 10% freshold.However I am no expert and there may be other provisions that need to be taken into account,A expert will be along shortly to give you more sound advice but looking at it in just those figures terms you maybe ok