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advice regarding IVA and what can be included
I have also posted this in the DEBT forum, but not sure if it will get noticed !!
have been administering debts for last 3 years+ .............. no end in sight.
as well as various debts i have:
x1 LARGE [failed] business premises utility bill - lost case - ending with an offered and judge agreed monthly payment [utility co didnt like amount and verbally objected as will take 15yrs to pay off.... but judge ordered it and they never came back at a later date with any formal objection.] also interestingly no ccj recorded and payments regularly made.
x1 CCJ secured on house. payment amount agreed again in court room with option for reviews annually but as yet never amended due to no change in financial circumstances. payments being made.
my query is this:
hope these questions are sensible?
any advice welcomed.
also have dca query but will put that into court claims with another post.......!
have been administering debts for last 3 years+ .............. no end in sight.
as well as various debts i have:
x1 LARGE [failed] business premises utility bill - lost case - ending with an offered and judge agreed monthly payment [utility co didnt like amount and verbally objected as will take 15yrs to pay off.... but judge ordered it and they never came back at a later date with any formal objection.] also interestingly no ccj recorded and payments regularly made.
x1 CCJ secured on house. payment amount agreed again in court room with option for reviews annually but as yet never amended due to no change in financial circumstances. payments being made.
my query is this:
- can i include these court agreed debts into any IVA proposal - or do they have to remain stand alone as they have gone through the court process?
- hypothetically............ if included into an IVA potentially the payment amounts may need to be amended as disposable income will have to be proportionate to total pot debt amounts? so all creditors get an % equal of the money in the pot? [if so, would a formal court amendment be required also to reflect reduced payments]?
- hypothetically........... if included into an IVA and then i sell my house would the secured CCJ still get the full £ owed - or would they have lost that right by accepting the IVA?
hope these questions are sensible?
any advice welcomed.
also have dca query but will put that into court claims with another post.......!
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