Advice please - writing letter to creditors about F&F of half of inheritance

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karen461
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by karen461 » Mon Mar 20, 2017 4:09 pm
Hi all, I just wanted to ask your advice on how I should word a letter to my creditors regarding an inheritance payment I am about to receive. The payment could clear my IVA but I just wondered if I could keep some of it so that I can maybe better my future. I have talked to my IVA practitioners and they told me to write a letter asking my creditors if they would accept half of my windfall.

I know there is a good chance they won't accept but worth a try.

Any advice would be so appreciated.
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Foggy
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by Foggy » Mon Mar 20, 2017 4:50 pm
To be fair I think your provider is being optimistic ... but, as you say, worth a try. You never know. I would try to come up with some good reasons to allow you to keep half of the money. After all, the creditors are under no complusion to better your future, so the more compelling the better. Not much help, I am afraid, but best of luck with it.
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Michael Peoples
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by Michael Peoples » Mon Mar 20, 2017 4:52 pm
If you require the funds for a specific purpose such as a car, rent in advance, deposit, redecoration etc then list what the money would be kept for. If you have any estimates this would also be helpful and in fairness creditors can be sympathetic and allow some funds to be retained. While it is part of the proposal that windfalls are introduced hopefully creditors reward your honesty in declaring it and let you enjoy the benefits of some of the money.
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Lisa Thomas
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by Lisa Thomas » Wed Mar 22, 2017 1:09 pm
Also, depending on the figures it might be worth asking creditors to agree to waive statutory interest, if your IVA provided for this.
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