what happens to inheritance is it 100% taken by the creditors or 50% as overtime. Can you combine both inheritance and re-mortgage then make a full and final offer.
Hi, inheritance is paid to creditors in full and as creditors already have a claim on this money you cannot offer it as F&F. Some proposals allow you to keep the first £500 so you will need to check yours. It is unlikely you will be able to remortgage at present but if you can your iva will end when the equity plus inheritance plus monthly payments have repaid 100p/£ and ip fees. Again, creditors already have a claim on your equity so they would not need to accept it in F&F.
If there is enough in the inheritance to pay your debts off in full plus fees, then your IVA will conclude and anything left will be yours otherwise you will have to pay it across.
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
