Who would get the best deal in negotiation with the creditors, me or my iva team?
I dont feel that the iva team have negotiated with my creditors.
I am due inheritance in next few weeks (if my dads house sells) and iva are paying what is owed to my creditors rather than negotiating
The inheritance would be regarded as a windfall so would go straight to the creditors. Negotiation is only likely if this could be regarded as a full and final settlement.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
There is, in this instance, nothing to negotiate. You have already agreed in the terms of your IVA that the inheritance, as a windfall, will be paid to creditors.
At the end of the day, until such time as the IVA successfully concludes, you always owe the full original debt.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It amazes me, I wanted to pay back all the money I spent but some people want there cake and eat it all. We spent the money , if we can we should pay it all back
I think the only way to look at this is if you were not in an IVA and received an inheritance you would, in all probabilities, pay off your debts.
So it's just the same scenario really. I think I would negotiate if my car was very old and I needed it for work or if something like a boiler needed replacing as creditors can sometimes agree a small part of a windfall being kept by the person in the IVA.
