I will explain how ppi was dealt with under my iva (which is now complete/cert issued). My IVA company identified during the course of arrangement that ppi might be due and if so would be paid in to the arrangement as it was a windfall as covered by the relevant clause. Subsequently I signed papers/...

You ask if you should find a job. Well, an IVA needs you to detail your income and expenditure(rent, council tax etc) as a first step. Any surplus goes to the arrangement and pays off a proportion of your debt. If you don't have a job do you have other income to declare? On the question of who to go...

If you were aware of the ppi monies while the arrangement was still live you might have an obligation to declare it. What does your windfall clause say? That said, I suspect that nobody will come knocking now that the arrangement is ended. I was not so lucky because the ip identified ppi during the ...

In a joint iva does one partners windfall have to be set against both parties debts. For example A has individual debts of £40k, B has debts of £12k. If B receives a windfall of say £20k thus enough to pay off his/her individual debts does the surplus £8k go to the other partners debts, or can B kee...

It was this month (Sept) but not with cleardebt. As I said the ppi settlement was not through but we received our certs and the IP will pursue the claims past the finish date and any compensation gained will be paid to the creditors. I have no idea what's taking so long with ppi although it did occu...

An iva is meant to be a solution not an unbearable burden. Early on in my iva I realised the payments were too much and after submitting a re-drafted income and expenditure list to my IP it was put to a vote of creditors who accepted a lower monthly payment which I then kept to. To come out of the i...

Help me a bit more foggy, I am being a bit thick. When is a will "proved", and what are the letters of administration? Also, just to re-iterate, we now have our joint certificates of completion, and the will which may have something of benefit has not yet gone to probate.

Did not inform them of a potential inheritance because it is speculative until we hear anything. Have seen some posts saying some IP's do not follow up on windfall clauses once certificate issued. No idea how widespread that is, or even how true. TBH I know the worst scenario, feed me some crumbs.

It's about inheritance (again). Since last post on subject our joint iva has ended, cert of completion delivered within 2 weeks of final payment. Again the worry concerns a possible inheritance for my wife, although nothing heard thus far from executor so we are in dark. The iva windfall clause stat...

Now we have our completion certs is subsequent inheritance still vulnerable, eg death occurred before end of arrangement but payout after end of iva? I know the windfall clauses include the acquired assets rule but is there a unwritten code where IP's tend not to pursue after full and final settleme...

We have recently had our completion cert. Entitlement to ppi was identified by our IP almost two years ago yet amazingly still not resolved when iva ended. However we signed over our entitlement to ppi monies so the IP could continue to pursue it after the arrangement ended and we got our certs. Cou...

We did not have enough equity and we did not have to pay an extra year's payments. As foggy says, check your agreement, or simply ask your supervisor.

I have located the relevant t and c's. "After acquired assets" defined as, abbrev "...acquired or received between start and end dates of arrangement." Crucially then what does acquire mean in IVA world? Gain or get, says my dictionary. Is it a gain before you get it, or even know about it? Assuming...

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> Originally posted by Michael Peoples The R3 standard terms and conditions are quite clear and if the windfall 'is acquired by or devolves upon the Debtor,' during the term of the IVA the debtor must inform the supervisor. ...

Thanks foggy and others for replying. Bit of a grey area methinks because the replies vary. Can I come back with a further point regards the windfall clause in our iva (and I assume such clauses vary per arrangement?)The clause is brief and says "If either debtor RECEIVES any windfall...must make th...