I am one year into an IVA. Does the IVA company take all PPI ?

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Alison.j

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Post by Alison.j » Tue Jul 31, 2012 10:44 am
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I am one year into an Iva, and I am waiting on a decision on ppi. If I am awarded this money, am I able to keep any or does the Iva company take all of it.
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MelanieGiles

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Post by MelanieGiles » Tue Jul 31, 2012 10:49 am
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Hi Alison and welcome to the forum

The answer to your question does depend upon the terms of your own IVA and how assets are treated. Best to discuss this with your own IP who has detailed knowledge of your case.
Regards, Melanie Giles, Insolvency Practitioner
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Shining

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Post by Shining » Tue Jul 31, 2012 10:50 am
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Hi and welcome, it is usual that this will be a windfall and therefore payable into your IVA for the benefit of your creditors.

If however it clears the original debt 100% including IP charges any remaining amount would be yours.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Shining

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Post by Shining » Tue Jul 31, 2012 10:51 am
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However, as Melanie states all cases are individual and it is best to take case specific advice from your IP
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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