Will the IVA take all of an inheritance?

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john224

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Post by john224 » Thu Feb 13, 2020 2:29 pm
I have a lVA, my question is, if i inherit money can the IVA and creditors take it all, or just what is left to pay on IVA

Lisa Thomas

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Post by Lisa Thomas » Thu Feb 13, 2020 2:35 pm
They can take all of it unless and until the debts, statutory interest (if applicable) and costs have been paid in full. Only then would any surplus be returned.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Thu Feb 13, 2020 2:35 pm
If you inherit prior to, and there are funds left as an asset of yours, or during the IVA, the inheritance will be due to the creditors up to the balance of the full original debt, plus fees and possible statutory interest. Anything over that figure will be yours.
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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