And also money borrowed from family went to pay tax while my husband being self employed. When we got rebate asked Cf if we can use some of it to pay them back but they never got back to us. Why paying them back is a problem??
Paying back a relative is a possible breach as you are, effectively, favouring one creditor over the others, which is against the spirit of the arrangement. Your relative should either be included in the IVA or defer repayment until after the IVA has concluded.
Michael Peoples wrote:If there was tax overpaid post IVA and this was an error then the money should go back to you. You can then repay the money borrowed and that should be that.
Thank you Michael. I know i asked already. Took ages to hear anything from Cf. Decided to contact my IP directly and as we hoped they let us keep some of the tax rebate to pay back family.
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location