What if I don’t declare some savings?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

mark532

User avatar
Posts: 1
Joined: Sun Aug 26, 2018 3:09 pm

Post by mark532 » Sun Aug 26, 2018 3:09 pm
I am about to go into a Iva, what happens if I don’t tell them that I have say £4000 of savings can they find out or access you banking details,

kallis3

User avatar
Forum Expert
Posts: 74227
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sun Aug 26, 2018 3:11 pm
You need to declare that amount of savings.
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

Foggy

User avatar
Forum Expert
Posts: 28340
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sun Aug 26, 2018 3:14 pm
If they do find out -- and these things have a habit of coming out of the woodwork --- the IVA will, at best, be failed. At worst you could be in court on a fraud charge.
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

luluj

User avatar
Forum Expert
Posts: 10420
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Sun Aug 26, 2018 8:19 pm
Why would you not declare these and offer them to your creditors - the whole purpose of an iva is to repay as much as you can back to your creditors based on affordability .... honesty with your IP at the outset is essential ...
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”