I'm planning to apply for an IVA from abroad. Some time ago I was diagnosed with an illness that for few years let me maintain my financial commitments. However my condition has had worsen and I need to decrease hours on my current contract. I would only earn a bit more than a half of the money before.
My friend offered me a job abroad with earnings of less than the part time of my current job but the costs of living are about 3 times lower than the UK ones. So after all calculatons I came up with a 100 quid for the creditors while earning only 710 quiq after tax (leaving me 600 to live with).
IVA advisor has told me that creditors have a duty of care and even I can spare 100 quid a month for them they might think that the following 600 wouldn't be sufficient for me to live for. I tried to explain him that it is more than enough. He said however that my earnngs and expenses will be compared to UK ones.
I was thinking if anyone - IP, creditors - will actually check my earnings before they agree for an IVA?
The Advisor told me that ideally I should be earning 800-900 a month, which I'm not far off. So what if I fake/forge my contract so it shows I'm earnng 900 a month? From that the Advisor will work out my 100 quid a month so my commitments wouldn't change.
Is there anyone who would possible contact my friend to cross-check my contract? To check that I'm earnng the money I declared. I know that on a review I would have to show my bank statement from abroad but I would worry about that later. I want IVA to be aproved first.
Thanks
Throughout my Iva, our income/expenditure was thoroughly checked through wage slips and bank statements. In all honesty I’m not sure it would be advisable to exaggerate your earnings as I think it would be discovered fairly early which could lead to the failure of the IVA if the IVA was to even get accepted. Hopefully one of the forum experts will be on tomorrow who know a lot more about it than I do and will be able to advise you better. Good luck with everything!
IVA completed (with funds paid to date) 4th October 2017.......Completion certificate received 23rd December 2017
As mentioned -- your financial status will be checked with bank statements and payslips now as well as down the line. What are your debts? Might you qualify for a Debt Relief Order and get it over and done with? Or, as Luluj suggests, Bankruptcy. An IVA is very much a trust issue and basing it on lies from the outset is asking for trouble.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It is your proposal and if the figures are lower than the recommended guideline figures then an explanation is all that is required. We have people in IVAs living all over the world and their I&Es reflect the local costs and not UK ones. For example £50 per month is the maximum in the UK for medical, dental and optical for a family which would buy you nothing in America. Maybe try a different firm.
