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Change of circumstance
focusedonfinance
Posts: 1 Newbie
in IVA & DRO
I started payments on an IVA in December 2010. Since then a dear friend of mine has passed away and i am the sole beneficiary in his will. I have been advised by the solicitor that the estate should be settled round about Sept or Oct of this year. I will have more than enough money to pay off my debts. Will i have to pay off the original amount of the debts or the amount agreed in my IVA?
0
Comments
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Hi focused.
You will always owe the full amount of your debt plus fees during the term of your IVA. If the passing of your dear friend has left you enough to pay off your debts in full plus fees then that is exactly what will happen.
Give your IP a ring tomorrow and discuss this with them. They will be able to let you know what exactly is expected.
On a side note. I am sorry for your loss. x0
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