www.iva.co.uk

Has the Supervisor the power to carry out a detailed investigation into the debtors assets

I dont know if they have the power but im sure one of the forum IPs will answer that one.
I have to say though, its always better to be honest from the start then you get no nasty surprises further on.

In proposing an IVA you commit an offence punishable by imprisonment or fine or both if you make any false representation to your creditors for the purpose of approving your proposal.

Also, on a practical point, if an asset comes to light during your IVA that you have tried to hide, then it could cause your IVA to fail and may result in the Supervisor petitioning for your bankruptcy.

m-f

Dont know the limits of an IPs power to investigate a persons affairs - but cant see why on earth anyone should be worried about this?

Anyone entering an IVA must realise that they are being given a brilliant second chance - and would surely want to be as open, honest, and helpful as possible?

Hi

really would recommend that you be upfront as the last thing you need after going through the stress of debt and setting up of a debt free solution only to fail the IVA because you haven't been upfront.

If you read the IVA agreement I think you will find that it talks about" if you fail to disclose .... are not helpful in their enquiries ...etc" that they may consider this a brech and fail the iVA.

IVAs are based upon trust, and your IP does have to carry out a degree of investigation work - such as checking HM Land Registry, electoral register, reviewing wage-slips and creditor statements etc. Your IP will trust you to tell the truth about your assets, and if you fail to do so there are consequences which have already been described.