www.iva.co.uk

hi
i'm a newbie and i have just informed my IP of a rebate from tax credits and inland rev as i am legaly bound too .... one was less than 500 so was allowed to keep but they other which was larger has just left my bank ..... now i'm obvioulsy following the rules and will continue to do so ..but... i had too tell them of the windfall and didnt have to proove the amounts etc ..... whats stopping someone less honest from just keeping the windfall or some of it and not passing it through their accounts ??

regards

leigh

Hi Leigh and welcome to the forum.

Good on you for being honest and declaring your windfall.

There is nothing to stop anyone from being dishonest and not declaring things but there is always the chance that they will be found out. Don't think I could live with that!

Agree with Jan nothing to stop anyone from not declaring windfalls but conscience would stop most of us as these things have a way of coming back and biting us in the bum.

Glad you got to keep some of yours and good on you for following the T&C of your IVA, I'm sure yours will run smoothly for you x

thankyou for the answers .... hey i cant afford for this to go wrong and i'm one of these unlucky people that always get caught when i try and be a cheeky monkey !![:I]

just thought it a little odd that in this day and age they actaully expect you to be honest !! you woulda thought they would be hooked in with the inland rev etc so know one could take the mic!!

by paying back any windafalls etc do you think it would work in my favour regards the 6th year if my mortgage doesnt have the equity ??

To be honest it won't make any difference at all unless you can pay back 100p in the pound!

Hi caveman - I'm just the same! I've never got away with anything in my life!! Being honest means you can sleep at night and i would hate to spend my iva wondering if i was going to be caught out over anything.

Undoubtedly there are some dishonest people in IVAs, and it would be incredibly difficult for an IP to pick up on everything even with the sight of full bank statements. We rely on the honesty and integrity of our clients, and I am glad to say that seems to work well most of the time.