Got inheritance, can i call the creditors directly to negotiate? Suicidal...

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Karen.59
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by Karen.59 » Wed Feb 07, 2018 12:28 pm
i have just come into some inheritance. i have told my ip and they say all of it has to be given to them. i have 3 years left to pay on my iva in total it would be 5030 . it was originally 15000 plus all the other sums that the iva puts onto it for them. they will not accept anything but the full amount. I was hoping to pay over half of the money 10000 and then keep the rest but said no. I have asked if i can ring the creditors individually myself they said no as I would be favouring different creditors. I wanted to ring but they say no. they won't ring them either. I am just suicidal now, just cant believe what i have got into. I was in debt management for many years in the end I set up an iva. I have rung the ombudsman to see if they can help and they can't touch an iva once approved. i did tell them the reasons why i got into debt in the first place and they did say that i should have been refused credit as there was no way i could pay back. now after many years and after a serious injury at work i will never work again. so have very little to live on. my question is is the ip correct in saying i can't ring them
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Foggy
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by Foggy » Wed Feb 07, 2018 12:36 pm
I am afraid that your IP is acting correctly and, no, you cannot negotiate with creditors yourself. One of the reasons many enter an IVA is that the creditors are not allowed to contact you and, I am afraid, this works the other way round too !

BUT -- in previous posts you mentioned that this inheritance was your husbands and not in your name. If this is correct then it does not have to be paid in (assuming your husband isn't in an IVA as well)
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Karen.59
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by Karen.59 » Wed Feb 07, 2018 12:53 pm
Hello yes my husband has had his own mothers inheritance but not on my iva at all. he will pay the mortgage off with this.
I have my own mothers inheritance and im in the iva.

Is there no other option
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Foggy
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by Foggy » Wed Feb 07, 2018 1:46 pm
Karen.59 wrote:
Hello yes my husband has had his own mothers inheritance but not on my iva at all. he will pay the mortgage off with this.
I have my own mothers inheritance and im in the iva.

Is there no other option


Ah, I see. I am afraid that the money has to be paid to your IP. The executors of the will should do insolvency checks and pay the IP directly.
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Lisa Thomas
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by Lisa Thomas » Wed Feb 07, 2018 2:26 pm
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karen955
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by karen955 » Wed Feb 07, 2018 3:10 pm
Lisa Thomas wrote:
https://youtu.be/L8M98FI5OqQ

thank you I will take a look at this
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Lisa Thomas
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by Lisa Thomas » Wed Feb 07, 2018 3:21 pm
Sorry to be the bearers of bad news Karen.
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