As Harpic says "yes" you can add them as creditors as long as you provide suitable proof of their loan. I owed both my Son & daughter sums of money, for which I provided copies of their bank statements as proof. They subsequently became creditors and as well as recieving a dividend, also receive a copy of my IVA documentation (proposal etc).
Last edited by Pennyless on Thu Jul 05, 2012 4:36 pm, edited 1 time in total.
I came into this world with nothing and still have most of it left!
I've had a look on there & think I'd be happier with IVA overall. I feel happier with being able to do overtime when I need extra money, otherwise the whole thing makes me feel too trapped & panicky!!
I've worked out my total debt & IVA fees, am I right in thinking that my monthly payments can't exceed this / 60, no matter what my disposable income? I don't have my own home anymore so there's no equity issue.
No that is not correct puppy. Your payments will be based upon your disposable income and not necessarily limited to 1/60 of your debts plus costs. However if your disposable income works out as more than this I would have to question whether an IVA would be the right solution for you.