i ave an iva set up at the mo an i may take early release from my job which means i will have a lump sum which will ave 2 last me till i get a new job do i ave 2 pay the money in to the iva please can sum 1 advise me as it wont b worth taking if i have 2 pay it in 2 the iva thank u
You are normally allowed to keep up to six months worth of any money until you find another job then anything left over will have to go to your IVA.
You do need to speak to your IP though for advice relevant to your IVA. They'll advise as to what to do.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
thank u 4 replying i rang my ip an thats wat he told me i thought i could pay a lump sum in 2 iva an end it but they say no they class it as a windfall not 100%if i am going 2 take it not sure if it would b worth me taking it but that u so much 4 replying
kallis3 wrote:
Hi Tracy and welcome.
You are normally allowed to keep up to six months worth of any money until you find another job then anything left over will have to go to your IVA.
You do need to speak to your IP though for advice relevant to your IVA. They'll advise as to what to do.
My pleasure. Depending upon how much your lump sum is then you could ask they they hold a variation meeting to accept this money as a full and final.
Which company are you with?
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
i think thats wat i am going 2 ask i wont now anything till middle december got a few weeks 2 think about it thank u
kallis3 wrote:
My pleasure. Depending upon how much your lump sum is then you could ask they they hold a variation meeting to accept this money as a full and final.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
