What happens if someone dies and they have an IVA

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8840

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Post by 8840 » Fri Nov 28, 2008 12:09 pm
What happens if someone dies and they have an IVA
 
 

MelanieGiles

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Post by MelanieGiles » Fri Nov 28, 2008 12:17 pm
Hi there and welcome to the forum

This is usually covered within the terms of the IVA, but usually the monies already paid into the IVA are held for the benefit of the IVA creditors, and any shortfalls to creditors then become claims in the insolvent estate to be paid in priority to any distribution to the beneficiaries of the estate.
Regards, Melanie Giles, Insolvency Practitioner
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