IVA & Possible pension payout?!

cerig1977

Hi All

We've just had our IVA approved earlier this month and now my husband has just been told that he has the chance of cashing his pension which would be about £9k - just our luck!

Anyway, we were just wondering is it worth him cashing it or leaving it be. What percentage would the IVA take if not all of it?

If only there was a way of hiding money!! LOL

Ta lots

C.

Not_so_wise_one

I'm fairly certain this will come under the "windfall" clause of your IVA and as such there will be a percentage of it that has to be paid into the IVA. Depending the clauses, it could be 50% up to 100%. You will need to check exactly what your chairmans report states. It will be in there somewhere.

Charco_2

I fear it may not be a windfall and so you would be required to contribute the full amount to your IVA