IVA and death

mariner46

If the person who has an IVA dies during the five years what happens with the debt?

McKneff

Debts are paid out of the estate, funeral directors first, priority debts next (council tax etc) then personal debts.

If there are no funds left and the debt is solely in the deceased's name, then the debt is written off.

chirpychick

We have a protection policy on ours, it is joint and doesnt cover me as my income is non existent, but if my husband were to die his debts would be written off. Its worth checking out whether yours covers this. We are with payplan if thats any help but im not sure if its something we had to opt in or out of.

Vikipollard

Hi Mariner,

Just a little worried by the question as I saw you posted about IVA and savings a day or two ago.

I really hope I'm being a numpty (it is a common occurence for me), but please talk to someone if things seem to be getting away from you.

I have no idea whether death was covered on my IVA ~ just the sense of relief when it was all sorted (now 60/72 months on).

Take care.

spaceman5

Vikipollard wrote: »

Hi Mariner,

Just a little worried by the question as I saw you posted about IVA and savings a day or two ago.

I really hope I'm being a numpty (it is a common occurence for me), but please talk to someone if things seem to be getting away from you.

I have no idea whether death was covered on my IVA ~ just the sense of relief when it was all sorted (now 60/72 months on).

Take care.

glad i wasnt just the only one who thought this, again after noticing 2 posts by the same poster