www.iva.co.uk

Ive been sent a form about assets that have been sold in the last 5 years, my joint IVA is still being sorted out. My partner sold his flat, and we used that money to mostly pay off bills, a loan from a relative, and the car we have. This was 4 years ago.
Will this affect us being accepted onto an IVA, why do they need to know this?

This is a new one on me .. I was never asked about past assets.

I imagine they are trying to ascertain that you haven't offloaded assets in an attempt to hide them just before the IVA.

In any event the proceeds from the sale were used to reduce your debt, so they can't quibble about that.

Which firm are you using ?

We're with Grant Thornton, Step Change put us in to them as we're self employed.

It will be ok ... they are looking to see if you have gained money and used it to fund a further purchase or have large savings.
As foggy says you have used it to reduce your debts so in theory this will be an advantage to you in an iva at it shows you have attempted to sort the problem yourself prior to the iva.

Hi

I can't see it effecting your IVA application to be honest
Guessing there are no funds left ?

Regards