IVA completed and windfall due to wife's illness.

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rusticles
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by rusticles » Mon May 08, 2017 8:16 pm
I finished my IVA about 4 or 5 years ago. My wife is possibly about to receive a windfall due to critical illness. I hadnt even given it thought, but she wondered if my old IVA, could have an affect on what we receive? We were NOT married when I had the IVA and as I say, it completed, successfully, years ago (since, got a mortgage etc...)
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Foggy
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by Foggy » Mon May 08, 2017 8:18 pm
Any windfall after the date of the IVA completing is hers and, in any event, as she wasn't in the IVA it would be anyway.
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rusticles
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by rusticles » Mon May 08, 2017 8:21 pm
Okay...thanks for the rapid reply. I also make the assumption, it wouldn't matter if it went into a joint account? Or should it go into a separate account??
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Foggy
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by Foggy » Mon May 08, 2017 8:29 pm
As long as it is identified on statements as her income, rather than yours, it would be OK ( might need pointing out though). But ... if your present account is with or linked to any of your creditors you would need to change it to a "safe" (non-creditor) bank.
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rusticles
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by rusticles » Mon May 08, 2017 8:53 pm
I can't even remember which banks I was with!! It was a long time ago (maybe 6 or 7 years I completed it!!!!!!). I believe I went with the bank i'm with now, as I had a dormant account with them from when I was a kid and I reactivated as I went into the IVA. How frustrating. :cry:
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Michael Peoples
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by Michael Peoples » Tue May 09, 2017 8:07 am
Your IVA is long over so nothing to worry about. It can be paid into wherever you like. If you won the lottery now the money is yours to keep so your wife's critical illness payment has nothing to do with your old IVA.
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Foggy
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by Foggy » Tue May 09, 2017 8:47 am
Foggy wrote:
As long as it is identified on statements as her income, rather than yours, it would be OK ( might need pointing out though). But ... if your present account is with or linked to any of your creditors you would need to change it to a "safe" (non-creditor) bank.


Apologies -- I was thinking on a totally different (wrong) track. It is her money --- nothing more to do with the IVA
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rusticles
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by rusticles » Tue May 09, 2017 8:53 am
Hi folks,

Thanks very much for all the answers.

My own thoughts are that it would be very hard for any creditors, from so long ago, to have any claim on any of my money, let alone my woes money, especially when you consider that we were not even married when I went into and completed the IVA.

I'm relieved....didnt want this added pressure, considering the circumstances surrounding this windfall!

Cheers
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Lisa Thomas
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by Lisa Thomas » Tue May 09, 2017 11:31 am
As long as your IVA was completed successfully any balance of debts included in your IVA would have been written off/settled through the IVA. Creditors can't pursue you any further for those debts.
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