If I receive an inheritance will my IVA be reviewed and increased ?

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Sal.c

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Joined: Sat Oct 11, 2014 12:26 pm
Post by Sal.c » Sat Oct 11, 2014 12:26 pm
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If I receive an inheritance that is more than the current total of my IVA would the overall total of my IVA be reviewed and increased? My current IVA total is £11,000 but my original debt was £28000. If I receive £20000, could they ask me to pay more back than the £11000 remaining?
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Foggy

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Location: United Kingdom
Post by Foggy » Sat Oct 11, 2014 12:53 pm
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During the IVA you always owe the FULL debt, plus fees and possibly statutory interest at 8% currently.

So I would expect the whole inheritance, on those figure, to be swallowed up.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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