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Posted: Fri Jan 15, 2016 9:08 pm
by andyflincs
Hello I am 55 in May of this year, I am thinking of drawing down on my pension to pay the remaining amount of payments on my IVA, approx 21 Months at £700, can i do this without creditors wanting more of my pension pot
Thank You
Posted: Fri Jan 15, 2016 9:17 pm
by lifenoteasy
Only do it based on creditors agreement in advance.
Posted: Fri Jan 15, 2016 10:31 pm
by linrog
im doing same my creditors agreed for me to drawdown and pay remaining iva off make sure you call a variation meeting but only say you will draw down for the agreement to pay off iva good luck
Posted: Sat Jan 16, 2016 5:53 pm
by Michael Peoples
You may have to take independent financial advice first and be aware this could impact on your income in retirement. It may be a short term fix but cause long term problems.
Posted: Mon Jan 18, 2016 10:00 am
by Lisa Thomas
Hi Andy - yes if you get the creditors to agree this at a variation first but make the decision carefully as Micael suggest.
You may be better off keeping you pension and muddling through the next 21 months.
Personally if you can, I would keep the IVA going and keep your pension.