www.iva.co.uk

hi there i have a debt question i will be very much obliged if you canhelp me out \.

iam into and iva and i have take a debt from my friend to meet my expenses and want to repay it back to him by doing some extra shifts and takeng a new job so shal declare to my IP that i am going to take a new job because of a debt with my friend and want to clear it but they will claim it half of the money from it so if idont declare about my other job and carry out does the IP has the authority to find out my extra earnings from the other job and if they find out what wil be the consequences.
please advice me please .
i will be Witing for your advices.

thank you all in advance.

any extra payments from a second job I believe will need to be entered into the IVA. Your friend will need to wait - your creditors for which your IVA is in existance take precedence - that is my understanding ? Why did you need to borrow from friend ? Is your I& E not realistic ??

Hi and welcome to the forum.
Lulu is right dependent on your proposal if you have to pay 50% of extra earnings then you should do so. You could use your extra 50% to pay your friend back, slower but at least you will paying him some back. If your I and e is not covering your needs then speak with your IP.

Ang

Hi
If the debt was pre IVA then it should have been included in your original proposal.If not then you will need to repay the debt from your share of any overtime or savings from your expenditure allowance.
Either way you must declare all extra earnings to your IP
Regards

I believe they willask for payslips anyway so there is no way that you can do overtime/extra work and get away with it. Why risk it anyway?

Explain the situation to your IP they are there to help!

If you are having to borrow money off friends merely to pay your household expenditure, it may be time to have a full review with your IP - as the taking of credit, be it from friends or not - is not usually permissible without the Supervisor's permission.