will IVA die with me?

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john w

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Post by john w » Mon Aug 18, 2008 4:14 pm
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What happens if I die whilst in the middle of paying an IVA? Will my partner be responsible for continuing to pay it or will it die with me?
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Viki.W

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Post by Viki.W » Mon Aug 18, 2008 4:41 pm
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Hey john, I think your debt will form part of your estate so any assets will be used to first pay the IVA and then to your partner. So your partner would not need to actually keep up the payments. Please hang in there for a technical expert just to clarify that. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Mon Aug 18, 2008 5:53 pm
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If you die during the course of the IVA, Viki is correct in that your estate will firstly be realised to pay off any outstanding debts, and then any balance would be passed to your partner. If there were no assets in the estate, then the balances would be legally written off leaving no monies for which your partner would be liable.
Regards, Melanie Giles, Insolvency Practitioner
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