Get expert opinion. This is the place for new questions to be posted.
-
Lily.st
- Posts: 2
- Joined: Sat Feb 02, 2013 7:17 pm
Hi
I'm in my final year of my IVA. Back in 2008 I had a really bad fire in flat which I had both home and contents insurance for. The reworking wasn't done so well and my flat now needs have the paint removed from the walls and then totally re-plastered. Because of being self-employed and the building company wanting to move me out for 3 months I was given a payout instead so I could do the work in my own time.
My plan is to hang on and do the work at a more suitable time little by little.
Is this money safe?
Many thanks L
-
Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
Hi and welcome.
I don't know the answer to this but would say check with your IP. I'll keep this bumped up for another poster to comment on. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
-
luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
Welcome to the forum....i would sincerely hope this was ok but lie Lesley i am not 100% sure so will bump back to the top to get an experts opinion.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Look at my blog "All I wanted was a baby"
-
Hyperdrive
- Posts: 766
- Joined: Sat May 07, 2011 1:43 pm
- Location: United Kingdom
So Lily.st you made a claim but instead of getting someone else to do the work you were able to do it yourself and settled on that basis? The insurers are satisfied.
-
MrsKnight
- Posts: 3225
- Joined: Thu Nov 13, 2008 12:52 pm
- Location: United Kingdom
Bumped for a expert in the morning ... Keep checking in, there will be someone along to help.
Last edited by
MrsKnight on Sat Feb 02, 2013 11:15 pm, edited 1 time in total.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Lyns x
-
plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
If it was to replace a damaged telly it would be yours to keep so I see no reason why your ip would be interested in this money which is to repair damage to the property but run it past them.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
-
wiggle1
- Posts: 600
- Joined: Fri Jan 27, 2012 7:09 pm
- Location: United Kingdom
I'll keep you bumped up as well, it seems to be an interesting point.
Life after IVA is wonderful.
-
Biscuits
- Posts: 92
- Joined: Wed Mar 23, 2011 5:21 pm
- Location: United Kingdom
I agree with Pasticdaft other wise what's the point in us paying out for insurance ??
*** Don't look back, you're not going that way ***
IVA Completed 27-11-2013
CC Dated 07-08-14
-
Adam Davies
- Posts: 14596
- Joined: Thu Mar 29, 2007 12:21 pm
- Location:
Hi
I would say that the money is safe as it is purely for you to repair your flat following the fire.
Best to inform your IP though but I would be very surprised if there was an issue
Regards
Andam Davies
-
Mrs S
- Posts: 17
- Joined: Wed Nov 14, 2012 5:52 pm
- Location:
Hi Lily-ST,
Whilst I'm not an IP, I am an insurer (property underwriter). The insurance company will insist that the payout is used for the work needed to be done on your flat. The aim on the insurance payout is to reinstate your financial position in your flat (not in general) to what it was before the insured event occurred. It cannot be used for anything else; your IVA will not be entitled to it.
Like Andy says, let your IP know but all should be well.
Have fun decorating.....my bugbear in life!
Mrs S.
Last edited by
Mrs S on Sun Feb 03, 2013 10:45 am, edited 1 time in total.
