www.iva.co.uk

Not posted for a long time ! My Iva is almost finished I think 2 more payments , I’m panicking as my partner is terminally ill and it could be weeks , he has a small insurance plan and a small amount of pension which will cover the funeral and keep me and my son going for a few months , will this count as a windfall ? I am terrified it will be taken of us

I am sorry to hear this news.

Technically, if you are the named beneficiary of the insurance payout, it will be treated at your income, and, possibly, a windfall. However, I would hope that the IP has the good moral judgement to work with you to allow you to retain as much as the creditors will agree to you keeping.

I would suggest chatting to your IP now and establishing some rapport to enlist his support when the time comes. In his place I would be inclined to overlook the whole thing in view of the timescales involved --- but, it is not my decision.

Stepchange are not the most unrealistic or money-grabbing ouitfit out there, so, hopefully, they will be sympathetic.

I too am sorry to hear your news. I can only echo Foggys comments and hope Stepchange will be sympathetic.