IVA fraud?

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mykhailo

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Post by mykhailo » Sat Jun 26, 2021 1:38 pm
IVA fraud?
My stepfather had lent 30k to Mrs X who entered IVA after that. Mrs X explained to her creditors who she owed 90k, her situation and offered to sell her second home that had a mortgage on it but it would be possible to get 15k from it. IVA was approved and the creditors got 10p. per 1pound. It was in 2014.

My stepfather passed away a year ago.

This week I got in my possession some documents regarding Mrs X financial situation during 2014. Exactly, a whole correspondence between her as an executor of her late uncle estate and a solicitor. It turns out that the uncle left her and her sister his house in equal share in 2014, right at the same time as she was claiming IVA. Mrs X share was 75k.

As the executor she validated the will and the whole house went to her sister.

Meeting with the creditors was on 16th of May 2014.
The will validation occurred 17th of June 2014.

I understand absolutely nothing in all this financial affairs. But in my point of view it looked as a fraud.

Could someone of you give me his opinion on this matter above, please?

Foggy

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Post by Foggy » Sat Jun 26, 2021 3:42 pm
Without a full investigation of all the documentation as well as what was done and what was said at the time it would be impossible to give an opinion. It could well be that the records no longer exist.

In the first instance I would have a word with the IP who dealt with the IVA. The police might also be interested.
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

mykhailo

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Post by mykhailo » Sat Jun 26, 2021 4:19 pm
Thanks your advice.
When you say that the records may no longer exist, what records do you mean?
Because I have a copy of that IVA that what was sent to all creditors way back then. Where she represents her situation and also lists all her assets and creditors.
She clearly forgot about mentioning the inheritance of her uncle.

kallis3

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Post by kallis3 » Sat Jun 26, 2021 4:31 pm
I believe they are the records he means.
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.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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