Posted: Thu Oct 11, 2007 6:56 am
Hi
Almost finished setting up my IVA but nothing has been sumbitted yet
Several months ago, some clients bought equipment from me that I bought on pay now pay later (which isn't due yet)
2 agreements, one for 494 and one 350
I had trouble getting the money out of them but they have settled now before the amount is due to be repaid
Can I pass on the money to the company now and clear them before my IVA creditor's meeting is called as I haven't included those 2 agreements because they were 2 busines transactions and the loan hasn't technically started yet?
Or will the other creditors find out that i'd paid them off even though they aren't listed for the IVA and I'll get into trouble?
If I settled the loans before they became due, i'd pay no interest, otherwise the total amount owed would be higher with the interest added to it
ie 494 would become a 750 debt
and 360 would become a 620 debt if the loan was deemed to have started
Almost finished setting up my IVA but nothing has been sumbitted yet
Several months ago, some clients bought equipment from me that I bought on pay now pay later (which isn't due yet)
2 agreements, one for 494 and one 350
I had trouble getting the money out of them but they have settled now before the amount is due to be repaid
Can I pass on the money to the company now and clear them before my IVA creditor's meeting is called as I haven't included those 2 agreements because they were 2 busines transactions and the loan hasn't technically started yet?
Or will the other creditors find out that i'd paid them off even though they aren't listed for the IVA and I'll get into trouble?
If I settled the loans before they became due, i'd pay no interest, otherwise the total amount owed would be higher with the interest added to it
ie 494 would become a 750 debt
and 360 would become a 620 debt if the loan was deemed to have started