we are in an IVA and have an old debt from abroad being pursued through a european order for payment..what happens to the IVA if a judgement is made against us and are you allowed to get a court judgement against you while in an IVA
Any advice would be much appreciated K
Hi kat
T6he first thing to do is to speak to your IP and explain exactley what has happened. Your IP will then be able to advise accordingly.
Where was the old debt from?
This will need to be dealt with in line with cross-border insolvency proceedings which are probably better explained to you directly by your IP. If the debt was not included in your IVA proposals, then the European creditor is unlikely to be bound by the arrangement and you may have to come to separate arrangements to avoid enforcement of this - however the creditor may have little appetite for this if they know they have to pursue you in a foreign country.
thank you so much for the reply...this is a great forum..I think you are all very helpful
No the debt was not included, Can I just ask that if it went to court in the UK and we received a ccj would it get us in trouble for not declaring it in the first place , I worry a lot and dont want to void the IVA in anyway it has been our lifeline to survival ..
I dont want our IP thinking we were deceitful in any way !
Just one more question. Can a person get a ccj in the UK while in an IVA if it was a UK debt incurred before the IVA because I am panicking now that some old debt from the past long forgotton may rear its ugly head?
I would appreciate very much your answers on these point to hopefully put my mind at rest
Thanks K
MelanieGiles wrote:
This will need to be dealt with in line with cross-border insolvency proceedings which are probably better explained to you directly by your IP. If the debt was not included in your IVA proposals, then the European creditor is unlikely to be bound by the arrangement and you may have to come to separate arrangements to avoid enforcement of this - however the creditor may have little appetite for this if they know they have to pursue you in a foreign country.
Debts in foreign countries need to be pursued under the law of the land in that particular country. You must share this with your IP who will be better placed to advise you on the options of dealing with this creditor. If the omission was due to genuine mistake, then I am sure it can be dealt with appropriately.
