Can IVA take my divorce settlement?

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brian792

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Post by brian792 » Mon Oct 11, 2021 11:16 am
I’m getting divorced and have had to leave our home.
The divorce settlement will be to help get a rented place , money for a rainy day and a share of my wife’s pension.
As it’s for my future can the Iva take it

Foggy

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Post by Foggy » Mon Oct 11, 2021 12:25 pm
Bottom line is yes ! They could look at it as a windfall or a liquidation of assets and, as such, it would be payable into the IVA. However, I would hope that the IP would be open to some negotiation regarding keeping some back for securing new accommodation. The future pension should not be an issue if not payable during the term of the IVA. Money for a rainy day, though, I doubt would be entertained.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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