Fraudulent IVA

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c706

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Post by c706 » Thu Jul 09, 2020 9:27 am
Hi I know of someone that had set up an IVA fraudulently and has many assets undeclared. What is best to do?

kallis3

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Post by kallis3 » Thu Jul 09, 2020 10:23 am
You can contact their IP and tell them of your suspicions. Do you have proof?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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http://kallis3.blogs.iva.co.uk

c706

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Post by c706 » Thu Jul 09, 2020 10:47 am
What’s their IP? Yea they are the director of a company and it’s on companies house as the sole director

And has an Audi Q5 as their car... of which they have purchased for around £15000 since their IVA has taken place.

However on the IVA register they have now defaulted too... I just think they seem good at avoiding the debts and living the high life. Can you assist with this?

Thank you

Foggy

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Post by Foggy » Thu Jul 09, 2020 10:56 am
The IP is the name of the supervisor of thei IVA, named on the Insolvency Register.

If they have failed the IVA, there is little that can be done from that perspective and it will be up to creditors to take whatever recovery action they deem appropriate.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

c706

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Post by c706 » Fri Jul 10, 2020 11:27 am
Ah so they escape the debts potentially

Foggy

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Post by Foggy » Fri Jul 10, 2020 11:50 am
Fri Jul 10, 2020 11:27 amc706 wrote:
Ah so they escape the debts potentially
If creditors decide not to pursue them, potentially, yes. But they have 6 years in which to act and could ( and often do) sell on bad debt to more 'vigorous' collectors in the meantime.

Depending on why the IVA failed, the IP could also take further action, if so inclined, even bringing action for fraud into the picture.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

c706

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Post by c706 » Fri Jul 10, 2020 12:36 pm
Ok thank you so very much for your advice.

I just feel this is wrong of someone to declare false information and exploit a system where people in need of help are being helped
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