if you recieve inheritance whilst in an iva?

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emma67

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Post by emma67 » Fri Aug 20, 2010 10:24 am
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please can you explain to me what happens if you recieve inheritance whilst in an iva, can it be used to pay off an iva or is it just taken towards the debt... does it decrease the debt... please explain thank you
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Michael Peoples

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Post by Michael Peoples » Fri Aug 20, 2010 10:30 am
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Any widfall goes to creditors in addition to the agreed payments. It increases the return and does not shorten the term unless creditors are paid in full.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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