Hi, i've recently entered into a iva. As it was my debt my problem i said no to a partner and child. i just didn't want to bring them into my problem. i had a call today asking if i have a child which i said no to and they seemed ok. my partner earns hardly anything and like i said it was my fault not hers the debt. Can they find out ? and what is the worse that can happen if they do ? i'm just so much happier now this is in place and don't want to ruin it and go back to square one with all the stress of debt. One other thing the person who set this up tweaked some expenses. i now know they do a annual review which would be in about 10 months time. there not big tweaks but they will see if they ask for yearly bank statement and payslips. am i stressing too much ? Thank you for taking the time to read this.
Repercussions ( if any) will depend on who you are with. Most firms base an IVA on the debtors income only --- the partners income only used ( if they agree to divulge it) to ascertain your fair share of household expenses and the guideline figures you can claim for these.
Some firms do include spousal income in the disposable income, which, if this is the case here, could make their attitude to the omission more severe.
An IVA has a great degree of trust involved, which you have already broken by lying. If found out your IP might well let it pass ... at worst they could fail the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you for such a quick reply, mine is with creditfix. the person i set this up with ( professional debt solution firm ) said if you don't want them involved to say no. I wasn't playing dumb but as i've never done anything like this before i just listened to there advice and done as they said as they was the professional.
The packaging company that passed you to CF might not have given the best advice ! In fact there are moves afoot by the FCA to have 'packaging' halted, as many of these firms simply want the commission and will massage applications to suit --- then, once the actual IVA provider has shelled out for the lead, they are, in turn, more anxious to convert to a signed up ( and fee paying) IVA.
CF do have a tendency to do things their own way and, so, are difficult, if not impossible, to predict. In your favour is the fact that they are a volume producer of barely supervised IVA's and do not seem to look too deeply at anything !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you so much for your time and your input on this. Just fingers crossed everything go’s well as it’s been such a weight lifted of my shoulders entering this Iva, really couldn’t imagine going back to square one.
I echo Foggys advice and would suspect you will be okay due to the volume of cases they deal with but I wouldn't advocate lying again in the future. Honesty really is your best policy and it may come back to bite.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
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. http://kallis3.blogs.iva.co.uk
