I'm sitting on the 'other side of the fence'

[w.a]

I'm sitting on the 'other side of the fence' We are creditors representing approx 20% of the debtors total amount. Meeting was scheduled last week but adjourned as the Inland Rev wanted more information. 2nd meeting is this week. However this debtor is 'hiding' assets, hiding creitors he makes preferential payments too, not declared full amounts on expected income, and claimed living expenses he does not pay. I have raised all these points with the Nominee both before the adjournment, in writing and by phone. I'm told that my points will be raised at the meeting and debtor will have to answer, BUT.... any other creditors who are not at the meeting and have already voted will not be aware of this information - where do i stand?? I have asked the nomimee to make the other creditors aware and get the information prior to the meeting but he will not.

[Piston Broke]

On what basis are you making these claims of what is fraud?
if it is based on fact, then surely it will be an easy point to prove? If it is as you suggest then i for one dont condone it. I know its hard not to try and 'ring fence' your money, as its human nature to try and look after yourself and your family in the best manner possible, but if like me, the person involved got themselves into this mess, then they have moral obligations to be at least fair and honest at this time.

its easy to moralise, but i would make sure youre claims are fair and honourable first, then you can expect the same in return

[kallis3]

How do you know that he is actually doing any of this?

[luluj]

if you reject the proposal you will have to hope other creditors do to. However if they don't then you will be bound by the IVA agreement.

It is essential that you can substantiate your claims of potential fraud otherwise it is unfair on the individual as you may jeopardise their chances of a fresh start.