www.iva.co.uk

If I sell any belongings that do not have material worth, such as say a pair of shoes or sunglasses on eBay, must I declare it? To me these are not earnings but disposal of belongings often for less than the original purchase price. I would be interested to hear thoughts of the experts...

You mention in your other thread that ANY surplus must be paid over to the IVA. I suggest you get in touch with your IP about this. I know that selling items on ebay don't give you a great return but I am sure that there will be a solution.

Sadsack wrote:

You mention in your other thread that ANY surplus must be paid over to the IVA. I suggest you get in touch with your IP about this. I know that selling items on ebay don't give you a great return but I am sure that there will be a solution.

Thankee
Just writing the questions in my head as they come along, perhaps should have been more structured.

I think your IP is more likely to be annoyed at you bothering them with such trivia!!

So unless you are selling a BMW convertable, rest assured the sale proceeds are yours.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

No worries!!!! Just keep them coming and someone will come along and answer you!!! It does not matter how many questions you have, this is what the forum is for!!
Sue

I wouldn't have thought that you should worry about having to put any funds raised from clothes sales etc... on ebay towards your IVA. If you want to be 100% you can contact your IP.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

I agree with you Mel, however, if you don't know the answer, the best thing is to ask!!!

Sue

Thanks everyone

Hi
Just to agree with Melanie on this one,you wil have nothing to worry about regarding selling your personal belongings on ebay.It is no different to selling them at a car boot sale.You will have to inform your IP at your review if you get the funds for these items paid into your bank[via papal] as they will not know what they are for.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

if you were to set up a bank account to put aside your 50% of overtime/bonus etc, does your ip have to see this account?, or does the ip only have to see the account your salary is paid into?.
in readiness of my iva i have set up an account with the halifax, which is to pay my salary into and the iva ,mortgage and poll tax out of.
i have a second accont with the co-op with all other direct debits coming out of it.
i also planned to open an account with nationwide for any of my share of overtime/bonus, or sale of personal items etc, will the ip have to know of this third account?

IP's don't really examine client's bank statements once the arrangement has been accepted. Well I certainly don't - I usually trust my clients to be honest with me and this generally works.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

what would we have to submit at review?.
just wage slips or p60 at appropriate time?.
what else would you want to see?.

That's about it - just so a verification can be done of the income you have stated you earn.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

about the same as original proposal then, proof of mrs torch's incapacity benefit and disability living allowance etc, and a letter from my daughter confirming how much she contributes to housekeeping.
does the ip keep my car registration document by the way? just in case i try to sell it without telling them, or will i get it back when iva goes through.

Correct - by the way I love the fact that you call your wife "Mrs Torch". Is this your actual surname perhaps?

The IP will not need to retain your car registration documents - again this boils down to the essential trust required between professional and client.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk