if you do not declare one partner has a part time job can the IVA find out. Also if a partner has a bank account not declared can that be found out. Would the IVA take into account pocket money given to children by grandparents that is transferred into a bank account.
It would invalidate the IVA if you deliberately left things out such as a second job or other savings/debts. Your children's money is completely safe and easily explained to the IP.
Hi Dorothy. Things like undeclared income or accounts DO have a habit of coming out of the woodwork eventually. The kids money will be OK.
Even if these things don't get discovered during the IVA (or, indeed, after it) would you want to spend the next 5 years worrying that it will be found out ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
5 or 6 years is a hell of a long time to be worrying that you will get found out!!!!
And the consequences if you do get found out will be costly(like failed IVA,IVA firm takes its fee and throws you back at the mercy of your creditors).
Has this happened or is it hypothetical?
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Agree Paul. There is always a chance that you could be found out and you would be in trouble.
Is it worth the risk?
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
im lucky enough to be out on my iva ,and has much has i love this site some times this site doesnt always seam real world,not sure why you might to hide an account but i would say if needs must then do so ! do what you think you need to do to get by ...x ivas are sometimes painted has the answer to all your worries,which i agree but they also bring lots of worries with them ,like every penny been watched ,a friend of mine once told me if you dont declare a bank account they dont know ,?not sure how true this is ,but if you think of it this way how come some people had 2 and 3 mortgages ? because they dont declared the previous and so they dont show up ! hope it all works out for you and good luck
I too am out of my IVA, but I would have never dreamed of intentionally holding something back from my IVA Company... after all we go to them for help. Orange, I think I understand where you are coming from, but still would not condone holding anything back. At the end of the day, this is down to the integrity of the original poster.
Doesn't matter how we 'paint' things on here, you should not be withholding accounts and the site should not encourage anyone to do so.
If people are having problems then the IP should always be the first port of call.
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
didnt say i agreed with it just said we do what we have to ,ivas are difficult and not always plain sailing ,i know iva are about been honest but at times i feel some give this perfect world view of our lives in the iva ,when really its the hardest thing ive ever ,done ,and the toughest time ive had for 6 whole years of no money ,so has much has its not right im saying i understand why you might be forced to do it to get by,sorry if anyone takes offence form this post x
im sorry but not all IP are helpful or interested , or even if they are they dont always treat you with respect some are rude .and has for hiding bank accounts ,i didnt say it was exceptable i said i understand why you might have to do it to get by .
but didnt mean to offend you kallis i respect you on here and your views but ,feel alot of posters make it all out to be wonderful in an iva when its very hard,dont you think its better to have both sides to the story for the poster to consider ,they must want to know our thoughts other wise wouldnt have asked the question x
