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Posted: **Sat Jun 16, 2007 5:06 pm**

i think im going to need an iva or bankruptcy soon, unfortunately when i aquired one of my loans i lied about being a home owner. When this comes to light could i be prsecuted for fraud ?, plus will it affect my chance of getting an iva?. thanks

Posted: **Sat Jun 16, 2007 8:26 pm**

Hi
I think it,s unlikely that a creditor would take it any further,it depends how large the loan is in relation to your overall debt and when you took it out.They may take a dim view,however they are commercially driven and as you are not a home owner they will be looking to get as much as possible back and this will be via a DMP or an IVA.

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Sun Jun 17, 2007 5:55 pm**

I think a prosecutiom is unlikely, but this may temper the creditor's position when it comes to voting. I would have thought that the lender would have carried out a Land Registry search to confirm whether you owned the property.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Sun Jun 17, 2007 6:11 pm**

If its an unsecured loan / HP the lender won't have confirmed via the land registry that the applicant is a homeowner or not.

I doubt the matter will be raised.... credit decisioning does not really use the application data as it is determined to be 'unreliable'...

As Melanie says the lender could vote accordingly or possible enter a CIFAS (UK’s Fraud Prevention Service) flag.

I would keep quiet unless specifically asked about the original application.

Posted: **Sun Jun 17, 2007 6:29 pm**

Just to follow on from Storm,I believe that a CIFAS registered against you is the kiss of death as far as any more credit goes.Once this is on your file its "curtains" with no time limit.
Fair enough,it has to be said.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Mon Jun 18, 2007 2:15 pm**

hi, thanks for all your replies. In response to your first point mr davie, the loan was for £25,000 and i took it out last august, its about 50% of the overall debt i would guess..dont think i like the sound of a CIFAS, but hey, needs must as the devil drives. Im hoping that storm is right and the matter wont be raised..all my loans etc are unsecured.....thanks again..