Inheritance

Lilmum

Hey,

I'm due to get some inheritance in the next couple of months and have been told they'll do checks, ie bankrupted. I have credit card debt which I have missed a few payments over the years but now back on track. Will the solicitor be able to see this when they do there checks? 

sammyjammy

A few late payments in your history is not what they are interested in, you will be fine.

ETA they won't see them as they will do their checks on the insolvency register which shows IVAs and Bankruptcies.

Lilmum

Thank you for your reply. I'm with a debt collection agency and on a payment plan. Will this also be seen? I can't remember without looking at my agreement if it is an iva or not

Lilmum

Does the insolvency register show missed or late payments? 

Nasqueron

Lilmum said:

Does the insolvency register show missed or late payments? 

The insolvency register is for bankrupts or people who have signed an agreement to deal with their debts in England and Wales

https://www.gov.uk/search-bankruptcy-insolvency-register

You can search on there if you are listed

I imagine there is something in your agreement that if you come into money you would be expected to notify them and potentially pay off the debts - indeed, it might be beneficial to give them a lowball full and final offer (depending on how much your debt is and how much you have repaid) and what you mean by debt collector e.g. if they were someone who bought the debt for pennies in the pound and might accept a lump sum of maybe 50%