I am executor of an account and will be paying money to the beneficiary of the account, who is currently in an IVA. Will this come back on me in any way.
This should not affect you at all as far as I can see.
Hopefully someone more knowledgeable will be along with more advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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My understanding is if the beneficiary is in an iva then the money may have to be paid direct to the IP for distribution to creditors as it would be classed as a windfall. The iva team need to be informed to ensure compliancy of the terms and conditions
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi - As you are aware of the IVA you will need to satisfy yourself that these funds can be paid direct to the debtor. I suspect they will have to be paid into the IVA. I would recommend you contact the IP and get their written evidence of this before paying any funds over to either party.
