I am being asked to inflate expenses. Is this rIght

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
User avatar
pawel958
Posts: 1
by pawel958 » Tue Apr 17, 2018 12:13 pm
Hello. I am in contact with nationaldebthelp.org.uk and whilst applying for an IVA, the company was asking me to lie about my expenses. For example, instead of loving with my dad and paying £350 rent, they asked me to ask that I live alone, in my dad's property paying £650 a month.

I felt very uncomfortable with putting false information down on my application and would like to ask for a second opinion. I was told this is purely to reduce my monthly payments and there is nothing illegal about it. I can't help but feel this is financial fraud?

Thank you for any input.
User avatar
kallis3
Forum Expert
Posts: 73563
Contact
by kallis3 » Tue Apr 17, 2018 12:25 pm
Certainly don't inflate your expenses! Speak to another couple of companies before making a decision.
User avatar
Foggy
Forum Expert
Posts: 27043
Contact
by Foggy » Tue Apr 17, 2018 12:26 pm
False declarations in a formal debt solution are fraud, although a small degree of creative accounting is often applied. What they are suggesting is fraudulent and I would be inclined to seek advice elsewhere.
User avatar
Lisa Thomas
Industry Expert
Posts: 6930
Contact
by Lisa Thomas » Tue Apr 17, 2018 1:46 pm
Did they put this in writing to you?

I would suggest a formal complain might be in order if this is their standard practice -

https://www.gov.uk/complain-about-insol ... actitioner
User avatar
Lisa Thomas
Industry Expert
Posts: 6930
Contact
by Lisa Thomas » Tue Apr 17, 2018 1:47 pm
...and no it's not correct - you have to sign and declare the informaiton contained in the IVA proposals as being true and you are aware that false representations could default/void any IVA approved.
User avatar
MerlinL14
Posts: 1457
by MerlinL14 » Tue Apr 17, 2018 5:55 pm
I think this is appalling! You have given up any hope of clearing your debts other than taking a course of action that will leave you pretty tight for 5 years so you can pay back as much as possible to your creditors. Not withstanding who's fault it was and I am sure some lenders are as much to blame for peoples debt as is bad financial education (you wont find any blame sitters here). Do not go down this route with this company, to be asked to commit fraud is incomprehensible. Speak to a couple of other companies and put this one behind you. Even their website is pretty conservative with the facts of an IVA.
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: kallis3, Ryan and 27 guests