A few years ago, I asked on here for some advice due to me making an agreement where I gave a local businessman a "loan" and how he ran off with more than half of the money.
There is a "court case" in 2 weeks time and I was wanting to pick some brains if that is allowed. Also, are there any lawyers or solicitors who might be able to give me some advice?
Yeah, got all the paperwork, a CCJ, sent high court enforcement officers round too. In the end I had to get a charging order on his property but only an interim one.
He is now playing dirty saying he is declaring insolvency and has proposed an individual voluntary arrangement (IVA). If more than 75% of his supposed creditors (people he owes money to) agree to it, that's it, all done, I can no longer chase him for any money and instead of returning the £30K to me, he can get away with just paying me back £3K.
The IVA is so made up, it's unreal. He supposedly owes 6 figure sums to people in other continents but he has no proof of these nor does he have any documentation. Also, he supposedly owes his family members a fair bit of money but all the arrangements were cash in hand and he has no proof of these. Although it says if he is proven to have lied, he will get locked up, I've spoken to some firms about this and they have said it's never checked at the insolvency stage.
My fear is that most of these "debtors" are his friends and family and will vote to approve the IVA and then that's goodbye to all the money that is owed to me.
Is there anything I can do legally or have I been hung to dry? I was pressured by a family member to do this deal but I know it was my money and I was stupid enough to jump in without having done in depth checks.
Does anyone have experience of IVA's and charging orders?
Can you please all say some prayers for me. The court case was adjourned and it is now tomorrow. I find out if I lose all my money to this dodgy person or whether they will force him to pay it back to me.
Not sure if anyone remembers me or this thread but I finally have some good news. The IVA failed because some of the debt he supposedly owed was fraudulent.
We ended up going to court and I got a final charging order on his property. He finally paid up at the end of last year but due to his laziness and not keeping to the provisions in the court order, he has another fine to pay.
For once, something went right in my life, even though it took 10 or so years for it to happen.
Not sure if anyone remembers me or this thread but I finally have some good news. The IVA failed because some of the debt he supposedly owed was fraudulent.
We ended up going to court and I got a final charging order on his property. He finally paid up at the end of last year but due to his laziness and not keeping to the provisions in the court order, he has another fine to pay.
For once, something went right in my life, even though it took 10 or so years for it to happen.
Yeah, the money has come back, well all the money he owed me. The fee is just a bonus but I am not too bothered for it. I will, however, not let it drop and will only settle the case once it has been paid.Thanks to anyone who kept me in their prayers.
Hey there! Looks like you're enjoying the discussion, but you're not signed up for an account.
When you create an account, we remember exactly what you've read, so you always come right back where you left off. You also get notifications, here and via email, whenever new posts are made. And you can like posts and share your thoughts. Sign Up
succeed you. Ameen
Hide
Looks like you're enjoying the discussion, but you're not signed up for an account.
Posting Permissions
Bookmarks