Not sure about this - if you can use anything left from your allowances to buy shares then you may be able to, but other than that I don't know.
Hopefully one of the experts will be along soon to advise on this.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If they were owned pre IVA, then they should have been offered as part of it.
If you buy them with any savings and you sell them during the IVA, I would have thought that any profit should go to the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
There is nothing to stop you buying and selling shares during an IVA - if the purchase is to be funded from funds which do not belong to the IVA. Do note, though, that any profits made on the sale will be deemed to be windfalls.
I suggest you put the money in a 5 yr long term savings account at 5% AER. If your are determined to play this share dealing game, your profits[as said] some will end up with creditors...what is the point???
Last edited by bankbonus on Sat Sep 05, 2009 4:28 pm, edited 1 time in total.
Buy the shares and then keep them until the end of the IVA. You should then not have to pay anything across to the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi
It could be argued Jan that any gain in value of the shares will be seen as an asset and payable into the IVA. Interesting to see what Mel has to say.
Regards
Would they force you to sell them during the IVA Andy?
Even if they did, any extra which could be paid to your creditors has to be good.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Good point Andy man, shares can increase in their market price and are in essense asset wealth and dividends are paid to the holder...so in 5 years you could recieve ten dividend payments...its income and taxable....50% uplift means half goes to Ips. No buts about it.
I'd probably do what another poster was going to do earlier in the week - buy some premium bonds!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi I am in second year of my IVA can I buy and sell shares.
Many Thanks
I had an interesting, if not expensive, predicament when I applied for my IVA. I am part of a Company Employee Share scheme, which i have been for several years. After five years, the Company buy back any shares bought by the employee at the current price. This year the Company paid me just over £2000, which I have had to forward directly into my IVA. I will have to do this for the next five years, as I have only just started the IVA. Gutted or what? Needless to say I have dropped out of the plan now.
I wanna see the sunshine after the rain, I wanna see bluebirds flying over the mountains again...
This should have been highlighted to you prior to entering into the IVA, but I think creditors would have still wanted the money to be paid over.
Indeed it was Melanie, and I respect that decision.I still believe that the IVA was the way to go!
I wanna see the sunshine after the rain, I wanna see bluebirds flying over the mountains again...
