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Posted: Mon Dec 10, 2007 7:56 pm
by vickir
I'm just about to enter into an IVA, my question is: I have some shares and get share dividends every 6 months, do i have to pay these into the IVA, also, if i sell my shares (which i have to hold for 5 years - 2 to go)do i have to pay the IVA what i sell them for?
Posted: Mon Dec 10, 2007 10:39 pm
by MelanieGiles
Hi vickir and welcome to the forum
Your shares are an asset and will need to be disclosed within your statement of affairs and likely sold for the benefit of your creditors. If they are in a sharesave scheme, it is unlikely that creditors will allow you to continue to buy more shares, so it might be worth encashing them now if you are able to. if not, they are likely to be sold when they mature.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp