Will this go against me?

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kallis3

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Post by kallis3 » Tue Jun 03, 2008 11:38 pm
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I am sure they will understand. I do hope things start to pick up for you soon, you have been having a rough time of it!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Viki.W

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Post by Viki.W » Tue Jun 03, 2008 11:41 pm
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Hey drowning-mummy, any money that you owe to friends CAN be included in the IVA and they can be treated as a creditor

I know this as my Dad is a creditor....unfortunately.

You could just pay them out of any extra money you may have left over at the end of the month if you didn't want to mention them. It shouldn't be too much of a problem so I wouldn't worry. I know how difficult it is to owe family and friends.

Viki X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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drowning-mummy

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Post by drowning-mummy » Wed Jun 04, 2008 12:07 am
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Oh viki, that is good news. I dont know what to do now. Will ahve to talk to friend tomorrow (owe one £1000 and another £150). What would happen to friend? I mean she lent me this money out of her savings account. When paying her back via n IVA would she have to pay anything? I know that sounds daft, but I've never had money so dont know about taxes etc. Basically would she be stitched up by us doing an IVA? We are offering 55p in the £ so thats not good for her. How did your dad fare?
"Theres always time to fly a kite....."

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Viki.W

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Post by Viki.W » Wed Jun 04, 2008 12:17 am
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Drowning-mummy, you DON'T want to know!!!!! It's a nightmare really.

The short version is:-

Dad re-mortgaged his house to consolidate my debts £148K I pay him £999.87 per month to cover the payment.
Business making a loss so got in MORE debt.
Sold my house cos couldn't afford it and hubby and I moved in with Dad.
In debt of just over £100K (not including the £148K)!!!!!!!
Dad has agreed to cover the mortgage payments until we get jobs.

Although my Dad will be included in the process he won't get a dividend regarding the £148k because I will still pay that but the extra money he has lent me will get included and I expect him to get a dividend.

When I find out more info I'll let you know, but you're further down the line than me so it'll probably be you advising me![:I]

Viki X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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