IVA windfall ???

kernits

Thanks foggy i have spoken to her this afternoon and will slow things down as best she can and also has told her solicitor who will be holding then releasing funds to us to pay by cheque if thats the case i will put it in a draw and will not cash it until certificate comes does that sound ok or am i being stupid ?

FoggyBrain_2

If the endowments are cashed in you become the owner of your share at that point, not cashing the cheque will be no defence. However, playing devil's advocate only here .... if the money doesn't hit your account for a while, how much interest will your IP have if he ever got to learn of it.

What sort of sums are we talking about here ? You will lose from the endowment a sum big enough to pay back your original debt plus fees ( possibly some interest according to what was agreed in that regard in your proposal), taking into account what you have paid in so far, of course.

kernits

sums we are looking at are all proceeds from endowments would pay off what is left in full on the iva but the money to pay F&f is a lot less and that is what i was doing before this happend so rock and a hard place spring to mind !