Friend is in an IVA which should lead to 100% payout with a bit left over.
His home has now been sold and the proceeds are with his supervisor ready to distribute to his creditors. However one creditor has suddenly upped their claim wiping out the potential surplus.
Prior to entering the IVA NatWest obtained a Tomlin Order for £18,000 against which £3,000 was paid. This arose from Personal Guarantees given for 2 companies.
NatWest are now claiming the IVA makes the Tomlin Order void and are trying to claim a significantly higher amount (£28,000) in the IVA.
His supervisor hasn’t got a clue and he is so broke he can’t afford to get any legal advice.
Any suggestions on how to tackle Nat West?
His home has now been sold and the proceeds are with his supervisor ready to distribute to his creditors. However one creditor has suddenly upped their claim wiping out the potential surplus.
Prior to entering the IVA NatWest obtained a Tomlin Order for £18,000 against which £3,000 was paid. This arose from Personal Guarantees given for 2 companies.
NatWest are now claiming the IVA makes the Tomlin Order void and are trying to claim a significantly higher amount (£28,000) in the IVA.
His supervisor hasn’t got a clue and he is so broke he can’t afford to get any legal advice.
Any suggestions on how to tackle Nat West?
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