OK, so here goes. I gave a loan (or would it be classed as an investment I am not sure) of £40K to a local businessman who intended to buy a property with that and some of his own money. He is an estate agent and someone I know recommended him to me. There was an agreed return of £300 a month. This would have been perfect as I had some money spare and not enough to buy a flat. I am still living with my Mom mainly to care for her. The intention was that with the money we would buy something smaller in 2 years time but we could not afford a bungalow at that point. The agreement also stated that if he didn't make payments for two consecutive months, I could end the agreement and all money would be returned to me. The agreement was for 2 years after which the initial loan would be returned to me. 3 months into the agreement, he didn't give me the return for 2 months so I told him the deal was over and to return my money but he insisted it would all work out and the money would be with me soon. 2 years went by and he missed a fair few returns but he would not let me end the agreement. To be fair, I was unsure of the process and stupidly thought it would work out. The money was not returned at the end of the 2 years but he sold the property 2.5 years after the agreement started. Half the initial loan was returned to me, the other half was given to someone who had put a "charge" on the property. How would someone know he had bought a house in a different town to put a charge on it if he hadn't told them or was just a pile of b/s? As far as I was aware, you can only do a land registry search on a property you know someone to own otherwise you would be putting every address under the sun hoping you would hit the jackpot, correct? He kept promising me that the outstanding money would be returned to me as he had huge investments in the pipeline. 3.5 years down the line, I had had enough and applied for a CCJ which was granted to me. He agreed with someone (not me as I would have instantly refused this, £150 a month on a close to £25K debt, hmmm) that he would make payments of £150 a month but again after 3 months, he stopped making those payments. I used the HCEO Group to try and make him make some payments - they went 3 times and had a chat with his wife but didn't do anything other than leave their number (it's nothing like what goes on on the tv shows!). Miraculously, his sports car had been replaced by a banger and his wife kept telling the HCEO that they had nothing of value in the house. Unless she had experience of bailiffs, how would she know to say that to them? If they turned up on my doorstep, I wouldn't know what to do or say for that matter. I've seen him whizz around in his fancy sports car so I do not believe he doesn't have a penny to his name. Roll on another year and the £150 a month repayments have been more off than on. So I applied for an interim charging order which was granted. Land registry states the property is owned but he supposedly still has a mortgage on it, it's one of those Islamic non interest ones. The judge was going to look through it today before it could be made final but 2 days ago I had a huge wad of paperwork through the post to do with an IVA. Now I have researched the IVA process and completely understand that (very unfair if it is just a small individual like me who is going to make a huge loss if it is accepted). I am classed as an unsecured creditor along with a lot of credit card companies. He supposedly also owes over £100K to someone in South Africa. How would I know this is legitimate or do we just have to go along with what he has said? Would the IP check all these details first and ask for proof? Also, there is some very misleading information on the IVA, he says the "investment fell through". No it didn't, you failed on the terms and wouldn't return the money. You also sold the property and handed over half the money to someone else (probably another creditor). Finally, in the blurb it says he is living with his wife and has 3 kids. That is not true as he lives with another woman now and has done for a while and I have proof of this and the address. There is someone who lives in his street who can confirm this. Would this sort of information void the IVA? There are so many lies in all of this my head hurts. I've also done a bit of research on him on companieshouse. He has 2 business in the red and 1 in the black which has roughly £300K which is supposedly a charity. When I spoke to a solicitor, he said he is probably siphoning money into that company. I have no idea whether this is true or not. What are my options now? Just hope the judge agrees to the final charging order which doesn't seem at all likely or vote NO at the IVA and make him bankrupt? We've finally seen a bungalow which would be ideal for Mum but I cannot afford it. It's such a shame. I know I made a huge mistake but it's almost like the law is on his side and he is getting away with it.

Hi all, Apologies in advance if this forum is solely for debtors but I am in a bit of quandary and want some help. If I am a creditor can I ask for advice and help or is this not allowed? I hope to hear off someone first before I go in length about my issue. Many thanks and have a charming weekend, x x