After reading something on this forum yesterday about "Windfall Clauses", it got me searching for my agreement with Freeman Jones concerning my IVA. (it was in an envelope, in a folder, in a box, in a drawer....no idea why)
I found these two paragraphs, do they mean what i think they mean ?
If i receive PPI payments from a company that is not included in my IVA, would i receive the first £500 ?
Whilst i think it means that, i have come hear for morale support or at the least a "Yes Thicky!"
(f) “after acquired assets” means any asset, windfall or inheritance with a
value of more than £500, other than excluded assets that you acquire or
receive between the date the arrangement starts and the date it ends or is
completed, if this asset could have been an asset of the arrangement had it
belonged to or been vested in you at the start of the arrangement;
PART VI
ARRANGEMENT ASSETS
14. After-acquired assets
14(1) Subject to the following sub-paragraph, the supervisor may claim as an asset of
the arrangement any after-acquired assets. Any such asset will be subject to and
be an asset of the arrangement.
14(2) After-acquired assets must only be sold or realised to the extent necessary to
repay the creditors in full with any interest they are entitled to under the
arrangement.
Thanks
Mutley.
P.S sorry if you see this question scattered around, i was having some pc problems when trying to post.
