question category: IVA

i am currently in an iva and i inherited some money which i have spent what will happen

Submitted on: 21st Jan 2009 by Non-Member | Total Answers: 1

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IVA and inheritance

I am really sorry to say that any money received as part of an inheritance, whilst in an IVA needs to be declared and usually paid to your creditors. I guess the question is now that it is spent, whether to declare it or hope they don't find out. I can't answer this for you. Perhaps the best advice is to be prepared for the worst i.e. to repay the inheritance, but hope for the best.

Submitted on: 21st Jan 2009 by TA Member

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