obtaining An IVA by Deception

[Rudibo]

Dear All here are the facts please bear with me because i am a bit angry at the moment
1, in 1988 when was 20 my parents ask me to be a"trustee" in order to help get on the property ladder, i remember signing some papers and forgot about it moved out the house and enjoyed my life
2, in 2005 i got into finacial problems and was fire fighting my debts until i could no longer handle the pressure anymore
3 i entered into an IVA succesfully January 2008
4, February 2008 my parents recieved a letter from a creditor (DLC) explaining that they will be taking me to court for a charging order against the property where my parents live because i own a third of the property.
5 i immediately sought advice with my IP and they immediately stopped the court proceedings my IP then wrote me a letter asking me why my name is on the register and why did i not disclose this information when i was going through the IVA, i explained that i did not know or recalled that i had a share in the house up until the charging came about, so i dont with hold any information, any correspondance from the mortgage or statements were addressed to my parents. My IVA basically said that i have obtained the IVA by Deception and if i want this IVA to survive i need to seek legal advice to proof that this was an innocent mistake.. as you can imagine i was very angry and explained to him if i was being decitful surely i would have carried on with the decption and not informed them about the charging order that my parents recieved, He basically said that he cannot give me independent advice and my parents and i need seek urgent legal advice, both my parents are pensioners and they do not know the extent of my debts and unfortunately they are not very understanding, they have never been in debt themselves, my question what do i do what type of solictor to i speak to try and clear this mess up

[aguise]

Hi Rudibo
Hopefully one of the technical experts will be able to advise. What a terrible position to unwittingly find yourself in. I hope all goes well and it can be sorted out.

Ang

[MelanieGiles]

Hi Rudibo

On the fact of it you have made a false declaration on your IVA proposal if you failed to disclose your interest in this property, and this may give grounds for failure.

What exactly were the circumstnaces surrounding the granting of a beneficial interest in your parents property, and how much is your share valued at compared to the level of your debts.

Also, when was the charging order entered into, because if this was after the date your IVA was accepted then it is invalid in any case - but of course this has opened up the can of worms with regard to the asset.

[Rudibo]

Hi All
Melanie in response to your questions- on the face of it it seems that i had made a false statement but to be totally honest with you as i said i signed a piece of paper when i was 20, and forgot about it, i had left the parentel council house and i was living with my girlfriend i had no idea that i had any interest in the house Until the other day. with regards to beneficial interest i recieved a called from DLC IN JUNE 2007 at work Stating that they will be taking me to court with regards to my debt they stated that they would applying for a judgement against me and they would search the land resistry to see if i have any property and apply for a charging order against me. i said go for it, they asked for my previous address which i gladly gave them because as far as i was concerned i had nothing to hide..In Jan 2008 there was a CCJ set against me from egg at my parents address waiting for me I i forwareded that to my IP and thought nothing of it, my parents recieved letters from them (DLC)in FEB 2008 stating that they will be applying for A Charging order.. by that time i was in a IVA and so immediately told my IP and the rest is History

In relation to my debts i have no idea how much the House is worth at a guess it is now worth £110,000 my parents mortgage is £45000 ( which they are still paying )
my total debt was £59000 i am paying back £37000 ..

You are correct in saying that the charging order was invalid and it has been removed

I have spoken to my mother and she is looking through the paperwork to find out if anything what i can do, my name is not on any statements sent to my parents by the mortgage lender or any endowment policies regarding the house I have no associations on my credit file in relation to the house would they no show up if i were?? i am a bit confused and complexed..

The IP advised me to seek legal advice and that is what i will do i just don't know how to go by it

[MelanieGiles]

I think you do need to see a solicitor to get this sorted out. Let me know what part of the country you live and I will see if I can recommend someone with experience of insolvency.

[Rudibo]

Thanks Melanie
I live in Birmingham

[MelanieGiles]

I can recommend the following firm in the Birmingham area.

http://www.martineau-johnson.co.uk/expe ... aterec.htm

Do let us know how you get on.

[Rudibo]

Melanie
thank you so much for the info.. i will get on the case tomorrow i have had a very long day at work and all i want to do is sleep

[debbiw]

Hi Rudibo, What an awful situation to be in. I hope you manage to sort it all out today, let us know x

[Rudibo]

Hi Everyone - as requested i am going to give you an update of what is going on I managed to speak to the solictors that Melanie Giles Kindly gave to me ( thank you yet again ) and they are in the process of helping me solve my problem, which thankfully can be solved,However my dilema is this, in order to sort this out i have to pay the solictors more £750.00.. considering i am in IVA and my IP has basically forced me to proof my innocence/integrity in this matter i cannot afford to do this.
the solictors will not take instalments because of the fact that i am in a IVA,
what do i do? do i expalain to my IP and miss an IVA payment to cover the solictors cost,
i would appreciate some feedback on this possible ( pretty please )

[Adam Davies]

Hi
Yes,I would speak with your IP and ask for a payment break so that you can instruct your solicitor
Regards

[MelanieGiles]

Is there anyone - a friend or family member - who could help you with the legal fees? If not, you have to weigh up the benefit of affording to prove your corner, againsst defaulting on the IVA and then being able to catch up with those payments at a later stage.

[Rudibo]

Hi Melanine ( andy thanks for the advice i will take it into consideration)

unfortunately there isn't anyone who can help financially, As such and unfortunately i do have to defend my corner because my IP stated that if i did not prove this was an honest mistake and i have no financial gain or interest in the property then the IVA would fail, and he would recommend bankruptcy, Now considering I do not live my with my parents both my parents are pensioners i do not want the prospect of my parents having to sell their house to pay of my debts. it does not seem fair, i got into this debt not them, why should they suffer for the bad choices i made..

unfortunately because i made some bad employment decisions before those decisions i was managing quite well never missed a payment never had a default or CCJ against my name, so when the sh** hit the fan i tried to negoiate with my creditors which in fact got me more into debt because my original debts doubled.. it has virtually taken 4months to get this IVA approved so i would not want it to fail - it is not as if i can start the process again ...

[Soulgrowth]

Hi Rudibo ... so sorry to hear of your predicament and I truly hope that you get something sorted soon ... I would opt for asking for a payment break on the IVA to fund it, afterall your IP is fully aware of what is going on.

I notice that you say you live in Birmingham ... did you see that we are having a get together on 29th March ... very much a social event of supportive 'friends' ... it would be good to see you if you were able to make it.

Debbie

[Rudibo]

Hi Soulgrowth
I will take what you said on board, you are right my IP is fully aware what is going on so i will put the suggestion to him, thank you for the invite i will see if i can make it , I wish i had found this Forum sooner it would have made my transition from a person fire fighting debt to person who can see a light at the tunnel at easier it has been very helpful, i have learnt so much from just reading what other people have gone through and what advice experts have given excellent website.. i will recommend anyone who needs help with debt to visit this website first.