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Posted: Fri Mar 28, 2008 7:13 pm
by littleted
Hello
i am self employed (hello Ian!) and my IP has viewed my proposal as 'interesting' as it is a trading IVA, but also considered a consumer one as most of my debts are personal loans and credit cards. Will this be a problem for TIX? Non of my suppliers are listed as creditors, just the other heft. Will this be a problem?
Posted: Fri Mar 28, 2008 8:50 pm
by Adam Davies
Hi
Unless you are a limited company all your debts personal and business must be included in an IVA proposal
Regards
Posted: Fri Mar 28, 2008 9:46 pm
by littleted
IAN!!!!!!!!!! Where art tho ???????
Posted: Fri Mar 28, 2008 11:05 pm
by MelanieGiles
Perhaps I can answer in place of Ian as he is quite busy this week.
From memory you have appointed a firm in Newport to represent you, who I know well as my practice is based in Cardiff. I am not sure why your proposal is deemed to be "interesting", as if you are self-employed an IVA is an ideal solution for you as an alternative to bankruptcy.
The term "consumer" IVA does not relate to the type of debts you have, but is usually used to refer to non-traders. These days, many sole traders use personal credit cards as a method of funding their businesses, but this does not made them a "consumer" type IVA, which generally relates to employed people with credit card and personal loan debt.
You will need to include debts you owe to suppliers, as all creditors must be included in the IVA, and the fact that you are a trader makes no difference to TiX who are a creditor voting representative who vote on behalf of creditors. I am not sure I understand the issues you are raising here - is your IP saying that they feel your case is problematic? It seems fairly straightforward from where I am sitting!
Posted: Sat Mar 29, 2008 9:21 am
by littleted
Thanks for answering Melanie, think I am just in a total pickle with it all, and can't see the wood from the trees.
I am probably like all of your clients at this point which is a total state of panic and want a "will this be accepted" answer, tell me yes, tell me it will all be ok, which obviously you can't answer!!!! Not having a posative time at the mo.
My IP is based in Wales, but also down here in Cornwall, and he is a total professional, I do have faith, just want a good outcome. Meeting set for the 18th, MILES AWAY!!!!