Will pension money be taken by IVA?

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sam894

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Post by sam894 » Wed Oct 06, 2021 4:38 pm
I received my army pension lump sum today of £7,000, I currently have an IVA, will they take this off me?

kallis3

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Post by kallis3 » Wed Oct 06, 2021 5:52 pm
You will have to inform your company and, depending on your debt, they may well take all of it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Wed Oct 06, 2021 6:00 pm
As Kallis says, you will need to declare this to your IP and it might have to be paid into the IVA, unless, as some agreements are drafted, pensions and proceeds have been excluded.
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
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