www.iva.co.uk

Hi all,
I have recently got my certificate of completion from my IP. The IVA was settled a year early with a sum agreed by all creditors. Although payment was made in Jan 08 i have only very recently got the certificate some 8 months after. My grandmother died in Sept 07 and left me some money. Her estate has only recently been finalised due to complications, and i have only recently been told i am due to an inheritance. My question is; as i was unaware of any money owing to me before my completion of the IVA in January am i still entitled to the money or will my IP reopen my IVA and all the court proceedings to distribute the money to my prior creditors. I am unsure as technically although i was not aware of any money owing to me, she died whilst the IVA was current and i assume that the money should be distributed to the creditors. Any advice or comments gratefully recieved.

I would say that as you have your certificate of completion and received the money afterwards, that you would ok.

One of the technical experts will be along to hopefully confirm this shortly.

Hey jennido, welcome to the forum. Sorry for your loss. I would agree with Jan, you have completed your IVA now so the creditors shouldn't want to chase you for the money. I'm sure a technical expert will clarify this. X

If you were not aware of the windfall at the time, but were technically entitled to it and have discovered this entitlement retrospectively, then you do need to inform your IP.

An entitlement to an asset is relevant at the time you become entitled to it, and this is not necessarily the same as you became aware of the entitlement. At the time of your grandmother's death, did you have cause to suspect that you may be entitled to an inheritance? If so, honesty is the best policy, so how much are you actually entitled to inherit, how much did you owe to creditors in the IVA, and what final dividend was returned?

sorry for your loss.

but,enjoy the inheritance as your grandmother would have wanted you to,with regards what melanie has said why on earth after an iva is complete would anyone ever want to speak to an IP again.(love them when you need them,stuff them when you dont...lol)

with your iva being complete whatever happens to appear in your bank account after then is yours,its all well and good saying if you knew about it beforehand you should have told them,but,as we all know money problems and iva's have in many cases come about by counting your chickens before they hatch.

I would say do whatever feels right. You didnt know about the money so what difference would it make, you slogged it out and should be proud of yourself. If you would rather not go ahead and keep the money inform them.

Sorry that you had this loss and youre grandmother obviously wanted to give you something.