I have had an IVA that was approved in feb 2010 and completed in full in August 2011.
I need to apply for a FCA license which has asked if I have ever had an IVA.
Am I legally obligated to mention this as it's been over 6 years now and isn't on the insolvency register anymore.
If I do have to mention it would it prevent me getting a FCA license?
If you are asked that question then you should be honest and answer yes.
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
I would think that you would have a legal obligation and otherwise why would they ask the question? If you received a licence based on false information there may be potential for criminal proceedings if this ever came to light so the best advice is to be truthful.
You could ring the FCA on a 'no names' basis and ask them would the previous IVA disqualify you and if so then remove the application. However we have numerous people in IVAs who still hold authorisation from the FCA/FSA and these people are not worried about anything coming out of the woodwork. Once disclosed and addressed you have nothing to worry about.
So is everyone saying that for the rest of my life every time I'm asked if I have had an IVA I have to say yes? I can understand if it is still listed on a public register but why if it's been removed?
If the question is "have you EVER ...." the answer is yes! It is down to your own moral code as to whether you tell the truth or not -- and down to the questioners mindset as to how to respond if caught in a lie.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I have to agree with Foggy and the others - you should answer yes. Some companies keep records for way beyond the six years.
It's one of those things that happen when we have been insolvent.
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
Not every prospective employer nor future lender will ask 'ever' but those that do would need to be answered honestly. It is similar to convictions which are 'spent' and therefore do not need to be disclosed unless you are applying for certain jobs where this protection does not apply.
