What if I don’t declare some savings?

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mark532
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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,
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kallis3
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by kallis3 » Sun Aug 26, 2018 3:11 pm
You need to declare that amount of savings.
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Foggy
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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.
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luluj
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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 ...
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