Iva and windfall

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Worried35

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Joined: Sat Aug 18, 2018 10:14 pm

Post by Worried35 » Sun Aug 19, 2018 6:39 pm
Foggy wrote:
It is not possible to be definitive .. one year they might ask for 3 months, another year they might decide 6 --- if they are looking for something they could ask for them all !
Thank you Foggy

Lisa Thomas

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Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Aug 20, 2018 8:38 am
If you don't declare this then you could breach and fail your IVA. Also the Executors will have a duty to check whether you are in an IVA and hand the money over to your IP.

You need to be prepared to lose the windfall, unless and until the total debts, interest and costs have been paid in full - then you should receive any surplus back.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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