www.iva.co.uk

[:(] hI there, hope everyone ok ,
please can anyone advise me, i have got to ring the revenue you and tell them i am entering a IVA , what should i say its making me ill thinking about it . What wiil they do

Kind Regards

Mark

Morning Mark. Have you arranged your IVA yet? I guess you just need to inform them that you are entering an IVA and that any debt that is owed to them will be included. Maybe someone with more knowledge will answer your question better than me,

Morning Chris, my IP is putting the proposal together now, it seems like a life time, but the inland revenue is worrying me

What percentage of your debt do they hold?
Who are your other creditors?

Why don't you ask your ip for advice? They will have an idea how the IR will react and may tell you which way to word it when you inform them. As far as I'm aware though, you just need to inform them the same as any other creditor.

I owe them about 10% of a 40000 debt

I wouldnt worry too much at this stage then as if the majority creditors vote in favour of the IVA, it would over ride them if they voted against.
As chris has said, ring your IP and ask them how to explain your plans to the Revenue. If you dont want to explain verbally you could always write to them instead. That way you wont have to answer any uncomfortable questions.

Is there any reason why you are so worried about the IR? I don't think they will be any more anti-IVA than any other creditor. I'm no expert but I think that with 10%, even if they vote against or don't vote it could still go through.

i am worried because they can send the bailiffs in without a court order,
thank you all for your help

Kind Regards

Try not to worry too much. I'm sure it wont be long till your creditors meeting.

I wouldnt worry Mark B.... I owed them 9 grand and they just accepted it like any other creditor. They are used to people going into IVAs and even have a special department to deal with it! at the end of the day an IVA is a legally binding lawful contract and they have to respect that! obviously the sooner you get your IVA finalised the better.

I didn't know that Mark. Try not to worry, as jpj says they are used to dealing with people entering IVA's, I think it's more likely they will send in the baliffs if there is no response at all from you. Have you told your ip how worried you are? They may be able to put your mind at ease. Maybe Melanie, the ip who posts on here, may be able to give you some advice.

i have just rang them, they said that they cant do anything until i have definate date of the IVA and they will put a note on my file but they will take legal procedings to recover the money until that date

For a start your IP should have already contacted them to advise them of the IVA. So I do not see why you need to specifically speak to them on this, but of course I would applaud anyone keeping their creditord informed of developments.

Can I also ask how it is that you only owe 10% of a £40k debt? If this is true then you only owe HMRC £4,000 in which case it is below their voting limit in any case, so I would not expect them to take part in the creditors meeting.

Thank you Melanie the exact amount is £4800 . the ip is putting a proposal together they said i should have recieved it last weds but nothing arrived so i rang them they then said it would be sat , nothing arrived , i am beginning to panic that the revenue will take seroius action