www.iva.co.uk

Hi there, so I recently got approved for an iva a month ago. With forgetfulness and stupidity I forgot to mention £100 of crypto currency. I have sold it all and sent it to my bank account. Now iv been in touch with the IP explaining it all and they want to look through bank statements. Will this fail my iva? I had no intention of hiding anything this was 100 percent human error. Thanks

They possibly just want to make sure that everything is ok. You have been honest by admitting your mistake. I can't see them failing it for the sake of £100.

An honest mistake which you have rectified. The IP is just carrying out due diligence. I doubt this will be an issue.

Thu Apr 15, 2021 6:30 ambazz wrote:

Hi there, so I recently got approved for an iva a month ago. With forgetfulness and stupidity I forgot to mention £100 of crypto currency. I have sold it all and sent it to my bank account. Now iv been in touch with the IP explaining it all and they want to look through bank statements. Will this fail my iva? I had no intention of hiding anything this was 100 percent human error. Thanks

thanks for the information!

Thu Apr 15, 2021 6:30 ambazz wrote:

Hi there, so I recently got approved for an iva a month ago. With forgetfulness and stupidity I forgot to mention £100 of crypto currency. I have sold it all and sent it to my bank account. Now iv been in touch with the IP explaining it all and they want to look through bank statements. Will this fail my iva? I had no intention of hiding anything this was 100 percent human error. Thanks

thanks for the information!

Thu Apr 15, 2021 6:30 ambazz wrote:

Hi there, so I recently got approved for an iva a month ago. With forgetfulness and stupidity I forgot to mention £100 of crypto currency. I have sold it all and sent it to my bank account. Now iv been in touch with the IP explaining it all and they want to look through bank statements. Will this fail my iva? I had no intention of hiding anything this was 100 percent human error. Thanks




Forgetting to mention cryptocurrency in an IVA context can happen — it’s still a relatively new asset class to many advisors. The key is full disclosure and clear valuation so your IVA practitioner can treat it appropriately. If you’re holding crypto long-term, consider using user-friendly, secure wallets like ETH to BTC online to keep assets organized and transparent for any financial review, rather than scattered across exchanges.

thanks for the information!