Posted: Tue Feb 02, 2010 4:25 pm
Hi,
I wonder if you can help me , I have just been given a creditors meeting date of 17th of February.
Total debt is £34,000, it is interlocking with my husband, my portion is c£16k(inc. I,Revenue amount) husband is c£18k.
The main creditor is the Inland Revenue c£10k and the other amounts are made up of largely 5 credit card/loans and smaller amounts.
My concern is that the Inland Revenue is c.30% of the debt and I am well aware of the 75% rule!
Nobody on the forum has really mentioned the Inland Revenue as a creditor so I feel quite alone.I have heard that they generally like to go for Bancruptcy instead? I myself have been threatened with this action and came close to it in the but got the relevant Returns in just on time to enable me to disprove their figures - however the stress over this period caused me to look at my options and I came across the IVA forum and was pleased to find that I had options.
I have been reassured by Tenon that the Inland Revenue are generally agreeable to IVA's but I would be grateful to receive another expert opinion on this this matter as although I am thrilled to finally have a date I am becoming increasingly concerned about it's outcome.
Thank you for taking the time to respond
I wonder if you can help me , I have just been given a creditors meeting date of 17th of February.
Total debt is £34,000, it is interlocking with my husband, my portion is c£16k(inc. I,Revenue amount) husband is c£18k.
The main creditor is the Inland Revenue c£10k and the other amounts are made up of largely 5 credit card/loans and smaller amounts.
My concern is that the Inland Revenue is c.30% of the debt and I am well aware of the 75% rule!
Nobody on the forum has really mentioned the Inland Revenue as a creditor so I feel quite alone.I have heard that they generally like to go for Bancruptcy instead? I myself have been threatened with this action and came close to it in the but got the relevant Returns in just on time to enable me to disprove their figures - however the stress over this period caused me to look at my options and I came across the IVA forum and was pleased to find that I had options.
I have been reassured by Tenon that the Inland Revenue are generally agreeable to IVA's but I would be grateful to receive another expert opinion on this this matter as although I am thrilled to finally have a date I am becoming increasingly concerned about it's outcome.
Thank you for taking the time to respond