Get expert opinion. This is the place for new questions to be posted.
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Paul.32
- Posts: 5
- Joined: Sat Nov 06, 2010 1:40 pm
I am in my 31st month in an IVA and currently owe £18000. My payments are £654 per month and I am struggling! I have a pension fund which I will receive in 9 years time - currently the lump sum is valued at around £50,000. Would there be a remote chance that my creditors would be willing to cancel the IVA where they will be guaranteed full payment of debts?
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Gaccream
- Posts: 52
- Joined: Tue Nov 16, 2010 4:41 pm
- Location: United Kingdom
I do believe there are considerations for Pensions to be ringfenced outside the VA - and thus protection for your retirement income. An expert will obviously be able to offer more detailed information. Hope this helps
RPF - Learning more Every Day
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Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi
Yes you could offer a lump sum from your pension pot to clear your IVA. Have as chat with your IP and discuss an amount that would be suitable
Good luck
Regards
Andam Davies
