Will I get to keep inheritance after IVA completed

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deborah180
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by deborah180 » Tue Apr 17, 2018 9:28 am
My IVA was settled and I got the certificate in June 2017,it's no longer on my credit file. I'm wondering if I get some inheritance from my mum's house sale do get to keep it or will it be taken off me.
Do solicitors do a search for previous IVA??
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Foggy
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by Foggy » Tue Apr 17, 2018 9:42 am
When did your mum pass ? If it was after the issue of the certificate than it is of no concern to youir former IP or creditors.
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deborah180
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by deborah180 » Tue Apr 17, 2018 9:50 am
Foggy wrote:
When did your mum pass ? If it was after the issue of the certificate than it is of no concern to youir former IP or creditors.

She hasn't died tho my died dad passed in Feb this year so just planning ahead. Terrible thought I know,my husband was in the iva with me and completed at the same time. He applied for ppi with Barclaycard which was in the iva,he was awarded 550 but they sent a cheque to the iva company saying he's not entitled to a penny.
Before the IVA was completed the company ran ppi checks on all accounts and kept what was awarded so we are a bit baffled as to why this payment was sent to the iva company and not us.

Thanks for your help.
Debbie
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Lisa Thomas
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by Lisa Thomas » Tue Apr 17, 2018 10:11 am
Any assets that become due and are received after your IVA has closed are yours to keep.
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Foggy
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by Foggy » Tue Apr 17, 2018 10:17 am
deborah180 wrote:
Foggy wrote:
When did your mum pass ? If it was after the issue of the certificate than it is of no concern to youir former IP or creditors.

She hasn't died tho my died dad passed in Feb this year so just planning ahead. Terrible thought I know,my husband was in the iva with me and completed at the same time. He applied for ppi with Barclaycard which was in the iva,he was awarded 550 but they sent a cheque to the iva company saying he's not entitled to a penny.
Before the IVA was completed the company ran ppi checks on all accounts and kept what was awarded so we are a bit baffled as to why this payment was sent to the iva company and not us.

Thanks for your help.
Debbie



My apologies ... but good that she is still here! PPI is treated differently as it existed during the IVA, although unclaimed at that time. An inheritance only becomes yours when the bnefactor passes away ... if that is after completion it is of no concern to your IP / creditors.
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deborah180
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by deborah180 » Tue Apr 17, 2018 11:46 am
deborah180 wrote:
Foggy wrote:
When did your mum pass ? If it was after the issue of the certificate than it is of no concern to youir former IP or creditors.

She hasn't died tho my died dad passed in Feb this year so just planning ahead. Terrible thought I know,my husband was in the iva with me and completed at the same time. He applied for ppi with Barclaycard which was in the iva,he was awarded 550 but they sent a cheque to the iva company saying he's not entitled to a penny.
Before the IVA was completed the company ran ppi checks on all accounts and kept what was awarded so we are a bit baffled as to why this payment was sent to the iva company and not us.

Thanks for your help.
Debbie

Thanks Foggy,
My hubby phoned the IP advisor tho it was initially set up through the Kingsgate that went bust so it continued through another company. The woman said that what ever money we come into they can keep until we've paid 100p in the pound which is harsh when we used previous inheritance to pay a full and final settlement.
Could there be a clause in the agreement we knew nothing about. We can accept that Barclaycard paid them but really will be penalised for years to come.
We choose IVA because it showed we had made some effect in giving some back rather declare bankruptcy.
Thanks again
Debbie
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Foggy
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by Foggy » Tue Apr 17, 2018 11:54 am
deborah180 wrote:
deborah180 wrote:
Foggy wrote:
When did your mum pass ? If it was after the issue of the certificate than it is of no concern to youir former IP or creditors.

She hasn't died tho my died dad passed in Feb this year so just planning ahead. Terrible thought I know,my husband was in the iva with me and completed at the same time. He applied for ppi with Barclaycard which was in the iva,he was awarded 550 but they sent a cheque to the iva company saying he's not entitled to a penny.
Before the IVA was completed the company ran ppi checks on all accounts and kept what was awarded so we are a bit baffled as to why this payment was sent to the iva company and not us.

Thanks for your help.
Debbie

Thanks Foggy,
My hubby phoned the IP advisor tho it was initially set up through the Kingsgate that went bust so it continued through another company. The woman said that what ever money we come into they can keep until we've paid 100p in the pound which is harsh when we used previous inheritance to pay a full and final settlement.
Could there be a clause in the agreement we knew nothing about. We can accept that Barclaycard paid them but really will be penalised for years to come.
We choose IVA because it showed we had made some effect in giving some back rather declare bankruptcy.
Thanks again
Debbie


The IP advisor is wrong, assuming you have the usual (pretty much standard) clauses. PPI is payable into the arrangement after completion, but inheritances are not.
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Lisa Thomas
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by Lisa Thomas » Tue Apr 17, 2018 12:06 pm
That statement would be correct if the IVA was still open but you say it has completed.
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deborah180
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by deborah180 » Tue Apr 17, 2018 12:14 pm
Lisa Thomas wrote:
That statement would be correct if the IVA was still open but you say it has completed.

Thanks very much Lisa,
It was completed last year and we have out certificate of completion.
Feel much better .
Many Thanks
Debbie
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