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Posted: Thu Jan 31, 2008 1:42 pm
by lcr
How should I repay a debt (between £8K and £13k (disputed) if I haven't got that amount and can only offer £50 a month. What about an IVA? My creditor is former solicitor who was crap and says he will apply for an order to sell my house or have a share of it. Advice needed please.
Posted: Thu Jan 31, 2008 3:02 pm
by Adam Davies
Hi
An IVA will not be suitable for just one debt I'm afraid.
You need to come to an informal arrangement with the solicitor to repay the debt.
If you are unable to do this then you need to take legal advice as it is very possible that he solicitor could petition for your bankruptcy over this or apply for a charge on your property
Regards
Posted: Thu Jan 31, 2008 3:14 pm
by MelanieGiles
You will be unable to avoid a charging order if the solicitor is intent on going down this route and the debt is undisputed. But the Court will allow you to make affordable repayments if the creditors presses for a payment arrangement.
Posted: Thu Jan 31, 2008 6:05 pm
by J-DOUBLEYA
If you can prove that the solicitor was negligent then you may be able to challenge the bill - if that is the case. As for the CO, its not guaranteed, the Judge can grant by installments but at the final hearing it will basically come down to best argument for or against wins.You could consider a Time Order ?