Will my father's executor know I have an IVA ?

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katy792
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by katy792 » Fri Dec 15, 2017 9:06 pm
hi I have an I a which lasts for another 38 months. my father has left me in inheritance 50% of the house in a will which will have to be sold. my question is will the executor of the will know I have an iva.
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Foggy
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by Foggy » Fri Dec 15, 2017 9:43 pm
The executor should check the Insolvency Register before distrubuting funds as, I am afraid, they will be due to be paid to your IP.
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luluj
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by luluj » Sat Dec 16, 2017 5:52 am
As foggy suggests the money from your 50% will go towards your creditors reaching 100% of their original debt plus IP fees and possible statutory interest. Any money left after this will be yours to keep.
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karen955
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by karen955 » Sat Dec 16, 2017 11:27 pm
does the solicitor have to keep it private and only contact myself and not the executor who is a family member.
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luluj
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by luluj » Sun Dec 17, 2017 1:06 am
I was in this situation .... the solicitor wrote out to all beneficiaries asking if any were bankrupt or in a insolvency plan - I wrote back asking him to refrain from informing others about my iva and he did; although my mum was the other executor who did know about our iva.
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Foggy
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by Foggy » Sun Dec 17, 2017 9:28 am
I imagine the executors themselves will need to know. Is the solicitor an executor ?
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