my wife & I have been in an IVA for 4.5 years, we have just been refused a re-mortgage to clear the outstand debt, I understand that the IVA will now continue for another year.
My wife is due to receive her state pension in May. Will these payments be subject to submission into the IVA or should she delay taking her pension or is she allowed to delay the pension?
They are income and should be included, unless your paperwork has already excluded them ( some do). However, the pension payments will probably be less than any salary she has been getting, so payments should not increase.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If she is continuing to work she could consider deferral as it would work in her favour. However you need to check the proposal as the IP may have factored in the pension when it was drafted.
