Documents to take with you
The first time that you get in touch with an insolvency practitioner, it is highly likely that they will tell you exactly what documents to prepare and bring with you to the first consultation.
Generally speaking, they will want you to bring:
It is of the utmost importance that you have all of the information that your insolvency practitioner asks you to bring with you. This is because they need to make an informed judgement on whether or not an IVA is suitable to your situation.
Be honest with your insolvency practitioner
It is vital that you are completely open with your insolvency practitioner about your financial situation as it will allow them to help you to the best of their ability and will make everybody's life easier in the long run. If you fail to be truthful with them, they may set you up with an IVA that is inappropriate to your needs. This could result in you being unable to afford the Individual Voluntary Arrangement that they organise for you. In the worst case scenario you could end up failing to make your repayments and your IVA collapsing. This could possibly lead to you having to declare bankruptcy or at the very least make your debt issues even worse.
It is also highly illegal to lie to your insolvency practitioner or even to withhold information from them. If you are caught doing this you could face some serious consequences; ranging from a fine to a custodial sentence.