is the pub run as a limited company or sole trader ?

Martin

I think you should also ask your IP, as this will affect your ability to remortgage (for the benefit of your creditors) if your agreement requires it

Martin

I'd think they'd have to be accountable to the creditors If they receive money after the completion certificate is issued, they would be obliged to distribute it to the creditors or return it to you Given this I think the IP would have correspondence that they could give you copies of detailing this...

the norm is payments left x monthly payment + equity where equity is the equity that could be released with a 75% LTV mortgage If this and your payments to date takes you over the original debt + IP fees then you would offer just enough to reach this level. Note expected return in your proposal is n...

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> Originally posted by Michael Peoples No creditor can be treated better than another and I doubt if this document would hold water. Effectively this creditor was bribed to vote yes and will benefit more than the other credi...

Can you imagine the carnage if creditors were allowed to act in this way, we'd have the IVA and a dozen arrangements with creditors and probably more second IVAs when people struggle to cope !!

In fact if the friend had refused to sign it could have made things easier, no sign = no vote but not not being bound by the IVA

I suspect the friend said some thing along the lines of 'sign this agreement or I'll vote to reject your IVA'

Martin

As I understand it all debts are bound by the IVA unless excluded from it. There are very few debts that are excluded from an IVA (debts secured against property, student loans, probably some others) So unless the friend has got the debt excluded, not voting or lodging a claim has no effect(other th...

I wonder if drawing up such an agreement would essentially turn your 'friend' into an unlicensed illegal money lender aka loanshark. I'd say your friend if he wasn't happy with the proposal and had a majority vote should have proposed a modification. In the absence of this I doubt a court would upho...

It could show up, maybe it'd show automatically, maybe only if hey done digging if you got into difficulty. I'd guess in these circumstances they may check as you are new to the country.

Also Barclays in Dubia may not actually trade as Barclays, so worth doing a bit of research first.

Martin

If you do stop payments (which as you know I did) the balances do go up and up with fees. For me it was the lump sum IVA or bankruptcy, which made these fees acadmic. Certainly if you keep paying it can't do any harm (so long as you don't borrow more money to pay others), and if your not 100% that t...

typically in an IVA your tying yourself into a 5 year deal and 6 years of being a leaper to the banks as far as credit is concerned, and you don't know for sure (nobody does) that it'll go through. It's right and natural to be concerned, if it's what you chose to do it will lift some weight off your...

I do have to pay the lump sum back BTW, so the next 4 years or so now are still living on a budget.

Martin

BTW I think the only thing they use the credit reference agencies for is to verify your ID

Martin

Mine was a lump sum IVA they wanted the following mods
- lump sum to be paid in 6 months (we were planning in paying it in a few days so no issue)
- IP fees to be capped

Martin