It could if she draws it down before the IVA is finished. How long has she got to go ? Does she own her own home ?
Sometimes pensions and proceeds are excluded in the paperwork -- look under "Assets" . And check the Chairman's Report in case any of the main proposal has been altered.
Finally -- there is a way round this by making a F&F offer before the pension is drawn down ... you need to make the offer in these terms ...... The lump sum will be drawen down for the purposes of offering £xx in full and final settlement of the IVA. Should the offer be rejected, then the lump sum will not be drawn down and will not be available to the creditors. This will require careful timing.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
