Your ex would be bound by the terms of the IVA but she could challenge it if she did not receive notification of the meeting. It may be difficult for her to prove the debt but you need to inform your IP about this potential debt before it goes any further.
I can understand why you did not necessarily see this as a debt when your IVA was proposed John, but you should have been asked by your IP about "soft loans" from friends and family, so you could ensure that you were making a full and frank declaration within your statement of affairs.
This is important, as these creditors do not always have to rank for a dividend - but why shouldn't they? - but can have a powerful vote which would assist in the acceptance of IVAs. You should refer the matter to your IP, whose job is now to agree and settle the claims of your creditors.
I did not see this as a loan because it was given to me in bits over the space of 6 years from an ex partner. I had forgotten all about it until today.
Should I still contact my IP about this even thou i don't agree with the debt?
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
I can understand why you did not necessarily see this as a debt when your IVA was proposed John, but you should have been asked by your IP about "soft loans" from friends and family, so you could ensure that you were making a full and frank declaration within your statement of affairs.
This is important, as these creditors do not always have to rank for a dividend - but why shouldn't they? - but can have a powerful vote which would assist in the acceptance of IVAs. You should refer the matter to your IP, whose job is now to agree and settle the claims of your creditors.
It doesn't matter about how the loan was given, or structured, John - if the intent of both parties was it was eventually to repaid, rather than gifted, then it needs to be incloded within the IVA.
There are provisions within the Insolvency Act that allow this to happen, so don't worry about this too much now, and let your IP liaise directly with your ex-partner - who in any case will need to prove that she is due the amount she claims.
If the inclusion of this debt takes your aggregate claims above 115% of the original level, your IP may need to call another meeting of creditors to effectively revote on the revised proposals.
Last edited by MelanieGiles on Mon Feb 17, 2014 4:12 pm, edited 1 time in total.
That'y my issue it was never a loan but a gift... She has found out I have moved and am expecting a child and has completely kicked off about it. I have told my IP that I do not agree and tend to go to court if needs be. She advised to go back to her should I lose the case and they will sort it but by the info I gave her she would be surprised if it made it that far.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
It doesn't matter about how the loan was given, or structured, John - if the intent of both parties was it was eventually to repaid, rather than gifted, then it needs to be incloded within the IVA.
There are provisions within the Insolvency Act that allow this to happen, so don't worry about this too much now, and let your IP liaise directly with your ex-partner - who in any case will need to prove that she is due the amount she claims.
If the inclusion of this debt takes your aggregate claims above 115% of the original level, your IP may need to call another meeting of creditors to effectively revote on the revised proposals.
Now it's just a waiting game for the ex to get legal advice and then see what happens then. My IP said the creditors would likely extend my IVA for a year because of the loss of adding this debt to the IVA but I am hoping this would get thrown out of court before it even gets there! With comments such as "It's not fair that you can get married and move on and I can't put a deposit on a house" It's pretty clear she is doing this out of jealousy and upset.
Would it be worth an IP highlighting what would make for an acceptable claim and what wouldn't.
Ie what proof would a creditor have to supply, is a recollection of a discussion enough, do the amounts need to be proven, would the creditor need to provide bank statements showing each installment etc
A creditor would have to demonstrate that a contract existed between the disputing parties - and for a contract to be valid there has to be demonstrated that there was offer and acceptance. ie that your partner offered you money, and that you accepted this and any repayment terms. This is where I feel that she might struggle, however District Judges can often make rather unorthodox rulings - so do be careful.
In the absence of a loan agreement or signed letter or both parties making a consistent statement how could this be proved
Would a text message suffice
Would email suffice
Would evidence of payments being made to one partner and being repaid on a regular basis (perhaps only for a while) add any sway
Sorry just interested in where the line is drawn, outside of it going to a court (and who can refer it court,apart from the lender obviously)
Afternoon,
There is proof that She gave me the money in way of bank transfers over the 6 years but not one payment from my account to hers as it was never mentioned as a loan. Surely if this was seen as a loan she would have asked me to make payments from the moment she lent me the money and not waited for the relationship to breakdown. The fact she said what she did I think proves she has only started this because of me moving forward with my life!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles
A creditor would have to demonstrate that a contract existed between the disputing parties - and for a contract to be valid there has to be demonstrated that there was offer and acceptance. ie that your partner offered you money, and that you accepted this and any repayment terms. This is where I feel that she might struggle, however District Judges can often make rather unorthodox rulings - so do be careful.
As for my IP they have said at present it is nothing more that a threat of legal action. If she does seek legal action that I have to choices. 1- If the money was a loan then they will contact her explain the iva and call another creditors meeting and arrange the payments 2- Stand my ground as it WASNT a loan and let it play out. If it goes to court and she was to win the case then my IP would then get involved in the matter. I was advised on any letters i receive from solicitors to make them aware that I am in a IVA.
