www.iva.co.uk

Hi there. I am currently going through the process of completing all the form to hopefully allow me to start an IVA. One thing that I am curious about is how do the creditors that the votes are put forward to know that someone is tellIng the truth when listing their income/expenditures? My current IP who I have been dealing with for a number of years are totally aware of my income, but isn't it a bit trusting of the creditors that will be voting to take what is listed at face value?!! Surely there are some people who lie?!!! iF SO, HOW CAN THEY GET AWAY WITH IT?!!!
Thanks

Hi JJ2007 and welcome to the forum

Curious to know why you have been dealing with your IP for a number of years when you are only now proposing an IVA? How has that come about?

You are correct that creditors do trust IP's to check this documentation and whilst I have never been asked to produce documents to support figures presented by clients of mine, there are some creditors who do apply spot checks. It would be a very stupid IP who did not check this information before putting his/her name to an IVA proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi JJ
I guess that you are in a DMP and are changing[hopefully] to an IVA.
Your IP should request wage slips every three months to check your income and some ask for bank statements at the annual review and can check some expenditure from that.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi to the both of you and many thanks for your feedback. I have been for the past couple of years beenn paying on a dmp basis, but feel as though enough is enough!!

Many thanks once again and keep up the excellent work!!

J