hi
does anybody know how to complete a full and final with a pension
i am 55 next june and although its not a large pension i dont want to lose it all
im with harrington brooks
You need to offer to draw down the pension for the purposes of a F&F only. Tell the IP that, if the offer is rejected, you will not draw the pension down and it will not be available to the IVA estate. The amount should be based on the number of payments left multiplied by the monthly amount. If there is equity to be dealt with you will need to add 12 extra payments.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I agree with Foggy - if the variation is rejected do not draw the pension down. Before you go that far however I would seek advice from a specialist pension advisor.
hi
thank you for the reply its more or less what we were guessing , just worried that if they realise my pension is available at my next birthday they will force me to pay back the full amount of my debt which would use up all of the funds , also do you think an offer of maybe 70 or 80% of the payments remaining would be accepted
thanks rover860
You can always ask for a discount as creditors like their money early. Nothing to lose by trying and if they demand more than you are prepared to pay then just let the IVA run its course. Creditors cannot force you to draw the funds down.
