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IVA DEBT help

Sun Jan 18, 2015 6:49 pm

Anyone clued up on this.
If you are on an IVA and have a accident (not work related) where you receive a pay out (not for loss of earnings)
can this affect the iva
last payment made in October :ayatollah: :ayatollah: so awaiting the month certificate but this is on mind

Re: IVA DEBT help

Sun Jan 18, 2015 6:55 pm

Are you still paying your monthly payment?

Re: IVA DEBT help

Sun Jan 18, 2015 7:00 pm

No mate paid off in full in October (but had the cheque in feb ) and it was for injury only no loss of earnings or nothing.

Re: IVA DEBT help

Sun Jan 18, 2015 7:09 pm

sorry explained it wrong..
iva has been paid in oct 2014
I received a payout in feb 2014
however I am awaiting the completion certificate.

Re: IVA DEBT help

Sun Jan 18, 2015 7:11 pm

Wont make any difference. Just don't say anything.

Re: IVA DEBT help

Sun Jan 18, 2015 7:13 pm

That's what I been reading about, I am not going to mention anything its just the wait for the completion certificate has got me thinking will they pick up on this

(thanks for help by the way :bluescarf: :bluescarf:

Re: IVA DEBT help

Sun Jan 18, 2015 7:21 pm

You had an agreement to pay, you paid. Now it's their turn to do their job and close it all.

If you had missed a payment they would be straight onto you. Now they have to do their bit they are not so keen.

Re: IVA DEBT help

Sun Jan 18, 2015 7:23 pm

You sound like you know what your talking about
nothing to worry about is my gut feeling as nothing was claimed for loss of earnings

Re: IVA DEBT help

Mon Jan 19, 2015 10:45 am

What you have to pay across depends entirely on what was written into your IVA agreement.

It would be quite normal for such agreements to include what are referred to as "windfall" money - i.e. money received that you were not expecting and was not built into the agreement as an expected asset for your creditors. However , the usual terms are that such "windfalls" are only included up to the date when your IVA is officially confirmed by the IP acting as your Supervisor as having been satisfied and completed.