An acquaintance has been bragging about how they got around not declaring both a second part-time job and the delay of declaring a large inheritance past the end of their IVA. I understand the other beneficiary to the inheritance was unaware of his indebtedness and did as requested and delayed the declaring the value of the inheritance and waited until my acquaintance was ready. Is this an offence, a breach of IVA rules? and can there be a claim made against them by the creditors?
In an inheritance it is the date of death that is key, not the date the estate is distributed. If the IP finds out about either the second job or the inheritance the IVA could be nullified and the debts reinstated.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My acquaintance is quite brazen about the whole issue of his debt issues and very little thought of those he took credit from and deliberately mislead all including friends who helped with his remortgages not knowing that he had large debts etc. It is annoying as he likes to portray himself as hard done by and an expert in debt management and evens tells his friends to go into debt and only pay a much smaller percentage of what is owed.
So how do we find out who their IP is?
The inheritance occurred during the later period of their IVA and the delay with dealing with the inheritance allowed him to avoid informing the IP of the change of situation.
So I suspect there's nothing that can be done to rectify this issue with his creditors!
Mon Mar 22, 2021 4:20 pmmartin239 wrote:
The inheritance occurred during the later period of their IVA and the delay with dealing with the inheritance allowed him to avoid informing the IP of the change of situation.
So I suspect there's nothing that can be done to rectify this issue with his creditors!
Depends on the amounts involved and the willingness of the IP and / or creditors to pursue it. The inheritance should have been declared when it was known about, so failure to do that could be regarded as a breach. In theory his creditors have been defrauded of monies owed and could sue or even bring charges for fraud.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014