My wife and I are 2 years into an iva.our debt is 72k and we pay 300 a month.so in 3 years time we will have paid £10,800.the creditors signed up and agreed . My wife is going to recive 50k inhertince maybe more possibly in the near future. We are considering making a final offer.but what offer would be reasonable when the time comes to offer a ff.tx
Hi, an inheritance you may find will be subject to the terms and conditions of your IVA and therefore payable to the IVA and if the amount exceed the original debt amount plus IP fees and possibly statutory interest the IVA will conclude and all other monies will be retained by you.
Luluj maybe you can give some advice?
Check your proposal it will clarify all in respect of inheritance.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Hi. During the IVA you always owe the full amount of original debt plus fees and possible statutory interest. It is probable that this inheritance will be captured anyway, and will not be available for an offer.
Are you both in joint IVA's or just you?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
