Hi I wonder if anyone can help a my friend is in an iva got 6months to go and her husband has had an accident and going to be recieving a pay out and she asked me if she has to pay this into her iva and I told her I was not sure but I told her to speak to her IP put she has left a msg with no reply so any help would help
hi parjay, I'm not sure but her IP would be able to give her case specific advice in respect of this. would the payout be received before her IVA concluded? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
She does need to speak to her IP and inform them of the payout. They are the ones to help her.
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
The IP really is best placed to advise. I believe they need to ask for breakdown of the award to distinguish pain&suffering and loss of earnings - one they can keep and the other needs to go towards their debts.
Is Parjay's friend has her own IVA and not a joint IVA will the husband's payout be considered and included as a windfall?
Obviously if it the husband's IVA or a joint IVA then it must be considered, and negotiations plus calculations made.
I asked my IP in my initial meeting about my wife receiving an inheritance and was told that it was nothing to do with my IVA and would be entirely up to my wife if she wanted to pay anything towards my IVA.
1st call 3rd Nov 2010.
Creditors meeting 21st Feb 2011.
IVA approved 22nd Feb 2011.
Will all be over 21st Feb 2016.
