Search found 7093 matches

Search found 7093 matches Page 1 of 473
by Lisa Thomas
Fri Dec 07, 2018 12:29 pm
Forum: Ask IVA Forum and Industry experts
Topic: How do I work out the pence to pounds??
Replies: 11
Views: 1210
You need 75% in value of creditors voting to vote in favour.

Your IP should have explained all of this to you already and it must have been in the paperwork you have agree to...
by Lisa Thomas
Fri Dec 07, 2018 12:28 pm
Forum: Ask IVA Forum and Industry experts
Topic: How do I work out the pence to pounds??
Replies: 11
Views: 1210
Tasha

The figure should already be detailed in the proposal you have signed.

I am concerned you do not know the figure if you have properly read and understood the proposals and appendices.
by Lisa Thomas
Thu Dec 06, 2018 3:47 pm
Forum: Ask IVA Forum and Industry experts
Topic: My debtor has applied for an IVA
Replies: 5
Views: 1850
What is the comparison with Bankruptcy?

This is what you need to be looking at because if the IVA is rejected she may well go Bankrupt and you will rank alongside her other unsecured creditors.

Where is says 8p/£ for IVA what does it estimate creditors would get back in Bankruptcy if anything?
by Lisa Thomas
Thu Dec 06, 2018 3:45 pm
Forum: Ask IVA Forum and Industry experts
Topic: My debtor has applied for an IVA
Replies: 5
Views: 1850
75% of creditors in value who vote, have to vote in favour for the IVA to be approved.

You have more than 25% of the votes so you therefore have all of the power because if you reject it they can't get 75% approval.

You can therefore approve, reject or propose modifications.
by Lisa Thomas
Wed Dec 05, 2018 11:46 am
Forum: Ask IVA Forum and Industry experts
Topic: Will I have to take out a loan on my house?
Replies: 5
Views: 1860
Watch my short video on this subject here:

https://youtu.be/PHfc85n39U4

Check your paperwork and determine the level of equity to see if the standard terms apply. Suspect you may have to extend and pay contributions for one more year if you have more than £5k share of equity..
by Lisa Thomas
Wed Dec 05, 2018 9:19 am
Forum: Ask IVA Forum and Industry experts
Topic: Bankruptcy with Family Loans?
Replies: 9
Views: 4064
Are you asking if the IP will pay a dividend to creditors monthly, or if you can continue to pay the debt off in an IVA?

You won't be able to do the latter I'm afraid. You payment to creditors will derive from the contributions you pay into the IVA - the IP will then pay a dividend out to creditors.
by Lisa Thomas
Tue Dec 04, 2018 11:37 am
Forum: Ask IVA Forum and Industry experts
Topic: Working in the finance sector
Replies: 2
Views: 2103
How much is your debt?

Does your contract of employment prevent you from going Bankrupt or entering an IVA?

If in doubt you could have an anonymous conversation with HR to explore your options.

Then you can decide whether a chance of career is necessary or not and what the best options are for you.
by Lisa Thomas
Tue Dec 04, 2018 8:55 am
Forum: Ask IVA Forum and Industry experts
Topic: Is an IVA right for me?
Replies: 2
Views: 2099
It's too difficult to advise without more information.

Who owed the business rates - you or another entity?

How much is your share of equity in the property?

How much income can you afford to pay into an IVA and what other assets are you offering?
by Lisa Thomas
Tue Dec 04, 2018 8:53 am
Forum: Ask IVA Forum and Industry experts
Topic: IVA approved
Replies: 7
Views: 2226
The answer will be in the terms you have agreed to - you need to check your paperwork or ask your IP.
by Lisa Thomas
Tue Dec 04, 2018 8:53 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I keep my income protection insurance
Replies: 2
Views: 2247
Sounds reasonable to me but as Foggy says the creditors can challenge the payments if they seem unreasonable.

If what you are offering to pay in contributions is fair and the overall estimated dividend is attractive when compared to Bankruptcy then I would like to think it should not be an issue.
by Lisa Thomas
Mon Dec 03, 2018 10:41 am
Forum: Ask IVA Forum and Industry experts
Topic: Paying more than agreed?
Replies: 9
Views: 2991
I suspect a years extension will apply to your friend unless she has less than the £5k minimum share of equity, assuming she has the 'standard' terms.
by Lisa Thomas
Mon Dec 03, 2018 10:41 am
Forum: Ask IVA Forum and Industry experts
Topic: Paying more than agreed?
Replies: 9
Views: 2991
A debtor always owes the total debt and interest and costs in full in an IVA. Only at the end of a successful term would any balances be written off.
by Lisa Thomas
Mon Dec 03, 2018 10:39 am
Forum: Ask IVA Forum and Industry experts
Topic: Can I include overpaid HB?
Replies: 2
Views: 2885
Are you in an IVA?

When did you receive the payment?

Has the mistake been identified and has a request to repay it been made?
by Lisa Thomas
Mon Dec 03, 2018 10:38 am
Forum: Ask IVA Forum and Industry experts
Topic: Lump sum
Replies: 3
Views: 3099
If you're not yet in an IVA you could explore the lump sum payments to creditors direct and potentially avoid the need for an IVA but will depend on the figures.

How much are you offering in the draft proposal and how much is the lump sum?
by Lisa Thomas
Mon Dec 03, 2018 10:37 am
Forum: Ask IVA Forum and Industry experts
Topic: Struggling with my wife's debts
Replies: 5
Views: 3202
Your wife needs to take insolvency advice.

You need to stop paying her debts as it may well cause your IVA to fail.
Search found 7093 matches Page 1 of 473