Do you have to declare inherited money ?

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Phillip.j

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Post by Phillip.j » Fri Nov 14, 2014 11:24 am
Do you have to declare when on an IVA inherited money.
 
 

ontheroad

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Post by ontheroad » Fri Nov 14, 2014 11:33 am
A far as i am aware yes you do need to declare it, if you have inherited enough to pay the iva off then why not offer it as a full and final payment. You need to speak to your IP about it and they will tell you the best options open to you.
 
 

size5

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Post by size5 » Fri Nov 14, 2014 12:11 pm
If you are already on an IVA then yes it will certainly need to be disclosed. If you are thinking of one, and feel that an inheritance may be likely, then perhaps you will need to factor that into your decision.

Best to get some professional and impartial advice if that is the case, and speak to as many organisations as you like, all should be happy to give no obligation advice if needed.

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Foggy

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Post by Foggy » Fri Nov 14, 2014 1:00 pm
As above, when in an IVA yes, and it will be payable to your creditors.
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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