Hi, I went into an IVA late last year, and was assured that this would not affect me as an Accountant. My reasons for having entered into an IVA was because I took out loans for my Mum, and my ex partner and they were to make the repayments. To cut a long story short, I got stuck with the repayments as their circumstances changed (although my Mum was paying me what she could afford,my ex was giving me nothing, saying he can't afford it now!)
My own stupidity landed me in this situation, but there was no way I could make these repayments and so for me, I saw an IVA as the only option available to me.
Anyway, I am a qualified Accounting Technician, and have completed 1 year at Uni to become a qualified Chartered Accountant. Although I am aware that there is no law stopping me from continuing, I have since discovered that I was supposed to inform the Accounting body within a month of having enetered into the IVA, and also the accounting body, I am already qualified with and a member of. Their terms and conditions say that I could be disqualified as a member and as a student member.
What should I do?! Do I own up now and risk losing it all, or do I stay quiet, hope they don't find out and continue getting qualified? It will take me another 4-5 years to qualify, by which point I will be out of the IVA. At he same time, I could spend the next few years getting qualified, then they discover I'm in an IVA and take it all away!
I did send them an email asking about it, and they replied saying basically that they review each case individually, but I think the fact that I have left it this long to inform them could go against me and get me disqualified from the accounting body.
Is anyone else in a similar situation, or working in Accounting who can advise me?
Thanks alot [:)]
