If lump sum payment received, would all of this need to be paid to IVA ?

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Sarah.03

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Post by Sarah.03 » Tue Jun 23, 2015 10:33 pm
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If lump sum payment received, would all of this need to paid to IVA or could some be kept to buy a new property?
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lifenoteasy

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Post by lifenoteasy » Wed Jun 24, 2015 7:50 am
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It would need to go to the IVA as classed as a windfall up until you get the completion certificate.

However to an extent it depends on where the lump sum is coming from and the circumstances.
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.
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Foggy

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Post by Foggy » Wed Jun 24, 2015 7:54 am
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I agree with Lifenoteasy.

Where is this lump sum coming from ? Are you currently a property owner ? Getting a new mortgage will be all but impossible for a while.
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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