inheritance

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dorothy245

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Post by dorothy245 » Fri Mar 05, 2021 5:30 pm
i have been in an iva since september 2018 i started with a debt of £43k i am expecting an inheritance of about £80k, i am paying £415 per month, can you please explain to pay what i will have to pay

dorothy245

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Post by dorothy245 » Fri Mar 05, 2021 5:35 pm
i have been in an iva since september 2018 it was for £43k i pay £415 per month i will be getting an inheritance of about £70k can you please tell me what to do, do i pay it off or just pay part,

Foggy

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Post by Foggy » Fri Mar 05, 2021 6:00 pm
The inheritance will be due to be paid to the IVA up to an amount to cover the remaining full original debt, plus fees and possible statutory interest. Anythnig above this amount will be sent to you. Whoever is dealing with the estate should contact your IP.
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

dorothy245

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Post by dorothy245 » Fri Mar 05, 2021 6:49 pm
hi foggy, this is an inheritabce from my sons pension fund who has died he has debt of about £20k i will have to pay out of this money, will i be allowed to do this

dorothy245

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Post by dorothy245 » Fri Mar 05, 2021 6:53 pm
hi foggy can you give me any idea of about ow much i will owe

kallis3

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Post by kallis3 » Fri Mar 05, 2021 7:07 pm
I imagine your sons debts will have to be sorted first and normally any inheritance due to you will need to be paid across until such time as you pay across 100% plus fees and anything else will be due to you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Fri Mar 05, 2021 8:19 pm
Fri Mar 05, 2021 6:53 pmdorothy245 wrote:
hi foggy can you give me any idea of about ow much i will owe
I am sorry for your loss.

It is difficult to say without knowing your IPs fee structure, but, at a very rough guess -- Original debt at £43k plus fees guesstimate of £8k = £51k .... less around £12k already paid, leaves £39k outstanding. All assuming no statutory interest. Only your own IP can give any accurate figures.
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

dorothy245

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Post by dorothy245 » Fri Mar 05, 2021 10:05 pm
thank you so much for taking the time to answer my questions. i am very grateful

norman

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Post by norman » Fri Mar 05, 2021 11:35 pm
I too am sorry for your loss Dorothy ,I'm sure you'll get sorted with the help of these good people ,some of us wouldn't have had a clue about things had it not been for this site ,I am very grateful to them all especially Foggy and Kallis ,my IVA is all finished now but I still love to look in every day to see how they keep pointing new people in the right direction and easing minds a little ,they never judge anyone just give great advice ,I hope people keep on coming across this site as an IVA can be very daunting at times so once again a big Thank you to all the experts on here who helped me out at different stages of my IVA ,very grateful .

kallis3

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Post by kallis3 » Sat Mar 06, 2021 8:36 am
Thank you for those kind words norman, we are glad we can be of help to so many people, and great to hear when they come out the other side and back to normal.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

dorothy245

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Post by dorothy245 » Sat Mar 06, 2021 8:54 am
the iva was the best thing i ever did, it took away all my worries, but i feel so guilty that my son has to pay my debts after working so hard all his short life, i am 76 and he was 53.it is so hard to speak to an ip i am with creditfix, i am so grateful for all the help i have had from foggy and kallis in the past they have helped me to understand lots of things

kallis3

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Post by kallis3 » Sat Mar 06, 2021 9:58 am
It is a very difficult time and CF are not known for their sympathy, it's all about money for them. At least your IVA will be paid off and I am sure your son will be smiling down on you knowing that your retirement will be debt free now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Sat Mar 06, 2021 10:15 am
Thank you, Dorothy and Norman, for your kind words.

Dorothy, as Kallis says, your son is giving you peace and stability going forward. He might no longer be here to help you in person, but his legacy will stay with you.
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

luluj

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Post by luluj » Sun Mar 07, 2021 4:44 am
My thoughts are with you Dorothy in these difficult and sad times. The loss of your son is huge, but take comfort that he is still helping you and enabling you to move forwards with your life - he will always be there to guide and support you xx
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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