If the debts exceed the amount of the inheritance then an IVA may be an option but if the inheritance is bigger I would advise against a formal proposal. It would be better to enter a DMP until; you receive the money and then pay off or settle the debts.
Again..thank you for your kind responses. At the moment ive no idea of the inheritance amount. There is to be a few thousand pounds i believe and the rest in a Trust Fund, so my benefits arent affected. Of course i will be paying off some of my debts, and then fixing broken things round the home that my Grandma wanted of me. Like not having lighting in the kids bathroom for three years as ive no money for electrical work. I want freedom to settle debts how i wish...i dont want a legal document/decision against me...something chaining me up for six years...in six years i would hope i had a new partner and a new future. I cant have an Iva.
Being on the Iva is not right for my circumstances right now. I was not in a fit mental state on Friday, and the advisor carried on regardless, making the iva sound so perfect and yet leaving out the true impact and nature of what they are.
I think i should make a complaint about the way she acted...i clearly told her i was finding it all too much to deal with; that i was alone; my Carer is my 13 yr old daughter and cant be expected to sort this; but she proceeded on...whereas good training should have told her to stop...she was so driven to get my sale i suppose.
Best wishes.
Well done to you, despite your interpretation of the hard sell you were having none of it, and freedom to settle your debts your way sounds good to me, and especialy not knowing the precise amount of the inheritance I think a good choice. I do wonder what the agent left out making it sound so perfect, obviously you must have known something about IVAs to know the downsides of them
