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Posted: Wed Aug 13, 2014 7:40 pm
by Jayne.pl
WE ARE IN OUR 4TH YEAR OF OUR IVA AND HAVE A LIFE INSURANCE POLICY THAT WILL MATURE SOON AND WILL HAVE A MATURITY VALUE. THE LIFE INSURANCE POLICY WAS A 15 YEAR PLAN WITH A REFUND AT THE END WHICH WE INTENDED TO PAY FOR BURIAL PLOTS. WE DID PROVIDE OUR IVA PRACTITIONER DETAILS OF THE LIFE INSURANCE POLICY AND IT HAS BEEN EXCLUDED FROM THE TERMS AND CONDITIONS OF THE IVA. WILL WE NEED TO INFORM OUR IVA COMPANY OF THE MATURITY VALUE AND WILL IT BE CLASSED AS A WINDFULL
Posted: Thu Aug 14, 2014 10:13 am
by UpToMyNeckInIt
Sounds like your IP has reviewed it and excluded it, based on your information.
On the basis that your IP would otherwise have mentioned you having to hand over this sum, and the fact that the policy is excluded, suggests that you should be able to keep this refund.
You will only know for sure by running it part your IP.
Posted: Thu Aug 14, 2014 11:17 am
by Adam Davies
Hi
As long as you are sure that it has been excluded then all should be fine
May be worth double checking with your IP before cashing in
Regards
Posted: Sat Aug 16, 2014 3:39 pm
by Michael Peoples
If it has been excluded it is yours to enjoy just as the others have said. Perhaps you could use some to settle the IVA.