So my ex was in an iva when we met and had been until divorce. His Iva kept extending as he wasn’t paying.
Now he is asking for a cash lump sum from me as a settlement.
He has not paid the IVA over past year and therefore has most likely failed about a year ago.
He’s refused to produce certificate of completion, saying he cannot get it.
Should he pay this money over to IVA. If it’s failed?
Will they try and claw back the money?
Should they be aware?
It would be really silly of me to have to put myself into debt to transfer over money that will just get clawed back.
I am aware that IVA is through court. And really want to know I’m doing the right thing.
If the IVA has failed ( which is likely ) then no settlement can be made through the arrangement, which no longer exists. Also, if he is making a F&F offer to close the IVA you would have to pay this to the IP direct, NOT to your ex.
It could be that, having failed the IVA, he has reached agreement with one or more of his creditors to pay off a lump sum to close the loan, but I would be wary.
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