We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
IVA & Possible pension payout?!
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.
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.
0
Comments
-
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.:jDebt Free after 5 years.:j Now Time to start saving for my move to Canada
0 -
I fear it may not be a windfall and so you would be required to contribute the full amount to your IVAWould you ask the wolves to look after the sheep?
CCCS funded by banks0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards