OR Interview Advice

hadenoughnow

I have my interview this Tuesday, I am just wondering what they will ask apart from why i went into trouble etc.

Will they require my bank statements/pay slips at all? 

I have stopped working overtime now since i have  submitted my application so have only declared my basic salary on the form. is this the figure they want? as any monies earnt to date from overtime have been spent anyway.  

they have advised me that its only likely to last half an hour? any other advice greatly appreciated. Also i have noted from the insolvency register that my discharge date is already a determined 12 months, can this be altered after they speak to me as i have been slightly naughty by taking out a large amount of credit whilst in an IVA. 

Many thanks
HEN

sourcrates

You will need to have good reason why you have taken on further credit against the terms of your IVA.

You may get a BRO (Bankrupcy restrictions order) if the OR suspects reckless, dishonest and/or fraudulent behaviour.

This can extend your discharge from anywhere between 2 and 15 years, i would suggest you be contrite and appologetic in your dealings with the OR, normally the telephone interview is more or less a box ticking excercise, but best to be prepared and have a phenomenally good excuse ready, and hope they are in a good mood.

hadenoughnow

sourcrates said:

You will need to have good reason why you have taken on further credit against the terms of your IVA.

You may get a BRO (Bankrupcy restrictions order) if the OR suspects reckless, dishonest and/or fraudulent behaviour.

This can extend your discharge from anywhere to between 2 and 15 years, i would suggest you be contrite and appologetic in your dealings with the OR, normally the telephone interview is more or less a box ticking excercise, but best to be prepared and have a phenomenally good excuse ready, and hope they are in a good mood.

The debts were for Weight Loss surgery and a holiday in an effort to save a relationship If nothing else i'm 9 stone lighter! every cloud i suppose, i just hope they see that a reasonable excuse 

sourcrates

Honesty is the best policy, if it was something that meant a lot to you, then make sure you get that point across, and i`m sure you`ll be fine.

sammy32683

Also if you mention the weight loss surgery was due to health risks they will be more understanding. Losing 9 stone I presume you were fairly overweight so just be honest as others have said. 

They won't need your paperwork during the interview but may request documents following it. I would just have what you can with you including your application and expenses to refer to during the interview. 

Minkym00

How did you even obtain the credit with a DRO? Did you lie on the application? 

John_

hadenoughnow said:s i have been slightly naughty by taking out a large amount of credit whilst in an IVA. 

Many thanks
HEN

I don’t think that that’s best described as “slightly naughty.” Were you aware that bankruptcy was likely when you borrowed it?

What’s the reason for stopping overtime?

hadenoughnow

John_ said:

hadenoughnow said:s i have been slightly naughty by taking out a large amount of credit whilst in an IVA. 

Many thanks
HEN

I don’t think that that’s best described as “slightly naughty.” Were you aware that bankruptcy was likely when you borrowed it?

What’s the reason for stopping overtime?

When I took the Exra credit out i had a partner living with me and could afford the extra debt. I have stopped overtime so as to have to pay it into the IPA, im already looking at around £200 on a flat rate salary 

hadenoughnow

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

No Lies i just applied and got given it. I was never asked if i was in an IVA on the application 

Minkym00

hadenoughnow said:

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

No Lies i just applied and got given it. I was never asked if i was in an IVA on the application 

That’s good, however the onus is on you to tell the loan provider, not them to ask. You are almost certainly going to be investigated for a misconduct here. The fact that the funds were spent on weight loss surgery and therefore your health would be mitigation but, sorry, a holiday to save a relationship would not. 

I don’t know about IVAs but certainly in bankruptcy borrowing money over £500 without informing the lender is actually a criminal offence.

sourcrates

Minkym00 said:

hadenoughnow said:

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

Minkym00 said:

How did you even obtain the credit with a DRO? Did you lie on the application? 

No Lies i just applied and got given it. I was never asked if i was in an IVA on the application 

That’s good, however the onus is on you to tell the loan provider, not them to ask. You are almost certainly going to be investigated for a misconduct here. The fact that the funds were spent on weight loss surgery and therefore your health would be mitigation but, sorry, a holiday to save a relationship would not. 

I don’t know about IVAs but certainly in bankruptcy borrowing money over £500 without informing the lender is actually a criminal offence.

Its not a criminal offence in an IVA, although as you say, it is regarded that way in bankrupcy.

The only repercusion is that the IVA could fail, there is no other penalty.