Inheritance

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Ant3101

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Post by Ant3101 » Thu Aug 25, 2016 6:12 pm
Well it looks like I've balls up just started iva and just been informed by solicitor that inheritance is due next week :(
 
 

Ant3101

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Post by Ant3101 » Thu Aug 25, 2016 6:16 pm
My original debt was 30k and inheritance estimated at 20
 
 

Foggy

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Post by Foggy » Thu Aug 25, 2016 6:30 pm
Sod's Law, and very unfortunate. Still, you will be able to finish the IVA once you hit £30k plus fees and possible statutory interest, if your monthly payment is sufficient to do this --- bolstered by any PPI they might find.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Ant3101

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Post by Ant3101 » Thu Aug 25, 2016 6:40 pm
Cheers foggy 1 of those things I suppose was gunna use it towards debts anyway so spose it stops me wasting it on crud
 
 

kallis3

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Post by kallis3 » Thu Aug 25, 2016 7:13 pm
It is a bummer!!
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
 
 

luluj

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Post by luluj » Thu Aug 25, 2016 8:37 pm
It is unfortunately bad timing however you have said you would have paid off your debts with it so this way is just making sure that it is done !
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
 
 

Michael Peoples

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Post by Michael Peoples » Thu Aug 25, 2016 10:22 pm
Would it not be better to cancel the IVA process if the IVA has not been registered yet. It looks like you will be repaying your debts in full plus possibly fees and interest and your credit file will be ruined anyway.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

luluj

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Post by luluj » Fri Aug 26, 2016 8:36 am
Ant3101 - has uour ova been agreed or is it just being set up and the creditors meeting not yet taken place ? If the latter than Michael is right it might be better to withdraw
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
 
 

Ant3101

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Post by Ant3101 » Fri Aug 26, 2016 10:50 am
No the meeting has gone ahead and all has been approved
 
 

kallis3

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Post by kallis3 » Fri Aug 26, 2016 11:00 am
I'm afraid you're stuck then - it will all go across to the IVA but if you pay back 100p in the pound then the IVA will complete and any remaining monies from the inheritance will go to you.
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
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