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Posted: Tue Dec 28, 2010 3:38 pm
by Paul.32
I am in my 31st month in an IVA and currently owe £18000. My payments are £654 per month and I am struggling! I have a pension fund which I will receive in 9 years time - currently the lump sum is valued at around £50,000. Would there be a remote chance that my creditors would be willing to cancel the IVA where they will be guaranteed full payment of debts?
Posted: Tue Dec 28, 2010 4:00 pm
by Gaccream
I do believe there are considerations for Pensions to be ringfenced outside the VA - and thus protection for your retirement income. An expert will obviously be able to offer more detailed information. Hope this helps
Posted: Tue Dec 28, 2010 4:02 pm
by Adam Davies
Hi
Yes you could offer a lump sum from your pension pot to clear your IVA. Have as chat with your IP and discuss an amount that would be suitable
Good luck
Regards