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limecocopop
- Posts: 17
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Hello everyone! Can you please confirm when you cease to be bound by the terms of an IVA? I competed in February, have certificate of completion etc, but I'm still on the insolvency register, and understand this is for 3 months after completion. Am I still bound by the windfall clause etc while still on the register, or does this cease with the completion certificate??
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martinw
- Posts: 454
- Joined: Wed Nov 20, 2013 8:44 pm
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No your not bound by the IVA once you have your completion certificate.
There are exceptions and one that springs to mind is if you later discover you where able to access assets during your IVA (whether you did or not), these are still caught by the old IVA
examples of this include PPI, inheritance (eg a long lost aunty died during your IVA and only now have hey tracked you down to give you your inheritance)
Martin
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limecocopop
- Posts: 17
- Joined: Tue Jul 16, 2013 11:09 am
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Thanks Martin! I figured that would be the case, makes sense: anything that existed at the time of the IVA, whether you knew about it or not, should be included, even retrospectively.
Sadly no windfalls coming my way anytime soon (if ever!) and no historic ones either! Just wondered if there is any difference in the 3 month period, which I am fast approaching the end of!
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martinw
- Posts: 454
- Joined: Wed Nov 20, 2013 8:44 pm
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The main difference is that it's no longer publicly available knowledge
Martin
