what sort of information do my creditors need if I opt for an IVA. Will they delve back into all my previous employment history etc (I don't like this idea as the less people who know about my situation the better). Do they need previous years bank statemnts etc or is it more about upto date stuff.
Your IP will want a lsit of creditors and assets, income and expenditure and a background story expalining the causes of your financial problems. Your history is relevant regardless of whether it was marital problems, drug/gambling addiction, loss of job etc but no one will judge. Your IP will need to see bank statements and if you are overdrawn or there are other debts to that bank you should open a new account.
Speak to an IP firm and have your queries answered confidentially.
There is always a long shopping list of information required for an insolvency practitioner to correctly validate your IVA proposal before its presentation to creditors.
There will be no need for them to actually contact your current or former employers if that is worrying you, and most firms would generally ask you to produce your previous three months bank statements in order to check the level of direct debits and standing orders, and other exceptional payments.
Your most recent creditor statements would also be required, along with current wage-slips to verify your income.
