rich kid

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Whoopsadaisy

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Post by Whoopsadaisy » Thu Aug 23, 2007 8:56 pm
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Let's say my youngest son unexpectedly inherits £85,000 from his godfather.
Obviously the money is his, but I am assuming he would want to:
1. treat us to a family holiday, sort out house which is falling down round our ears(including new bedroom furniture for himself, and en-suite), invest a bit for his future, split it between him and his four sibs and for me, his dad to keep paying into IVA as arranged?
2. or pay off IVA with his money?
If so, I am assuming James will only want his dad to have the minimum amount required to offer a full and final (offering same return as agreed at meeting) and not the whole lot?
A moral dilemma me thinks!
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MelanieGiles

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Post by MelanieGiles » Thu Aug 23, 2007 10:34 pm
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Hi again

This is what usually happens, but your son could pay more if he wished to.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Thu Aug 23, 2007 11:07 pm
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Good evening,

Your son has no obligation to pay all his inheritance towards your IVA. It would be very nice of him if he could make an offer and finish your IVA sooner.

Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
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