www.iva.co.uk

What do I do if I believe a person in an IVA is being fraudulent ?

What do you mean by fraudulent? If it's really bad and something like a money laundering issue then you need to report them to SOCA.

You should share your concerns with the IP and if you have evidence that the debtor has not been trueful with the proposal there are legal sanctions which can be taken. However, very few people enter IVAs with the intention of defrauding creditors so hopefully your concerns are wrong.

Are you sure there is something iffy going on? Do you have any evidence with which to support your beliefs?

It is worth just bearing in mind the trouble and heartache it could cause the person about whom you hold the concern if they're subjected to investigation and questioning only for nothing unorthodox to subsequently be found to be going on.

How much do you know about the ins and outs of a IVA,
to know there are being fraudulent?

Yes I am sure of the facts. Do I report to the IP? The reason I am so cross is my sister has an IVA which she has been paying for a long time. This person inherited money and they haven't declared it!

So this other person, how do you know they have inherited and not declared it?

By all means contact the insolvency practitioner or firm running the iva. I asume you know the personsdetails so the ip can be found on the iinsolvency register.

Paul

Are you saying it's your sister who is in an IVA and has inhertied the money and not declared it. If so I think your first port of call should be your sister to explain your concerns.

I am aware of a case of an undeclared windfall and it was true and the IP was told of this by another family member. While you can try and deal with genuine mistakes or omissions you must report cases where someone deliberately hides assets and does not give you a chance to redress this. In this case the person was prosecuted and I believe received a custodial sentence.

I also know of a similar case 100% and when I queried this on here I was told to maybe butt out which I have done, infuriates me no end though. The thing is they have installed a new kitchen, a new bathroom and changed their car so I doubt there's much if anything less. However, hopefully at equity time their house may have increased in value and then it may be payback time.

Your first port of call, really should be your sister. Her IP does need to know, however if you went straight to the IVA company without speaking to your sister, this could have a really bad long term affect on your family.

I do not agree that you should have butted out because this type of behaviour reflects badly on IVAs and undermines the tens of thousands of genuine people who try their best to repay what they can to creditors. In the case of ours, the sum was substantial and the debtor received nine months in jail. This may seem harsh but they had ample opportunity to come clean but continued to lie to the O.R. and the police.

I understood that the OP knows someone who she thinks isn't declaring an inheritance and feels bad because her sister is doing her IVA by the book.

Hi Skippy


Glad you said that I thought it was me, the person is peeved because her sister is playing by the book however another is not

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Skippy

I understood that the OP knows someone who she thinks isn't declaring an inheritance and feels bad because her sister is doing her IVA by the book.

This is how I interpreted it too.