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david1977
Just Joined

1 Posts

Posted - 06 Nov 2017 :  10:45:49  Show Profile  Reply with Quote
hi there i am looking for some advise as it seems i have messed up.I have been in an IVA for 2 yrs now and a few months ago had 20k from a inheritance. I have used 10k of this money to help fund my business before a friend mentioned that i shouldnt have. My debt is in the region of 60k and i now am panicking. Do i come clean and offer the rest? what will be the circumstances from my actions? jail? bankrupt?

David

IVA Adviser
IVA Expert



742 Posts

Posted - 06 Nov 2017 :  11:05:51  Show Profile  Reply with Quote
Hi david1977.

You had an obligation to disclose this inheritance to your insolvency practitioner at the time, so that your creditors could benefit from it.

We can only really advise you to contact the insolvency practitioner and try to find a way forwards from here.


I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      

Edited by - IVA Adviser on 06 Nov 2017 13:51:05
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