if you inherited enough money

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kba

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Post by kba » Mon Feb 12, 2007 11:44 pm
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would it be possible to pay off an iva early if you inherited enough money
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neverending

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Post by neverending » Tue Feb 13, 2007 12:05 am
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Hi
A provision of most ,if not all,IVAs is that any inheritence has to be paid into your IVA upto the value of your original debt plus IP fees.This is the maximim that can be paid so any moneys left over will be yours and your IVA will be concluded early.
Andy Davie
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123debtsolutions

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Post by 123debtsolutions » Tue Feb 13, 2007 1:23 am
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Hi Kba

The answer is yes.
If you are aware of any such inheritance that could become due it is important that it is noted.
The same goes with if you won the lottery e.t.c.

Feel free to ask any further questions.
If you have chosen a company to help with the IVA proposal you will have plenty of opportunities to ask as many questions as you can think of. And of course have a good read of the forum posts to help when choosing an IP.

Regards

Lee
www.123debtsolutions.co.uk - 08000 114 123
Lee
www.123ds.co.uk - 0808 22 22 123
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MelanieGiles

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Post by MelanieGiles » Tue Feb 13, 2007 1:19 pm
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Just to add to Neverending's excellent advice, you may also need to include statutory interest which runs at 8% per annum, which is a general modification put forward by a lot of creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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