Hi i finished my iva payments in nov 2014 . Im 55 in feb 2016 and can take my lump sum i was told by a friend that creditors can ask for outstanding debts is this the case thanks
Have you received your completion certificate ?
If yes then other than PPI payments my understanding is no ..it will be yours to keep.
If not yet received, was the lump sum payment known about at the time of your iva ? Was it excluded from the iva in any way ? If not you may be required to pass to your iva to increase the dividend to creditors - if this is the case, specific financial advice would be required as to whether you should take it now or later.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi John. If you've finished your IVA than that's it - all creditors were bound by the agreement and the amount of dividend they received was full and final - that's the point of an IVA. (Except for any PPI as Foggy points out or assets that you failed to disclose at the beginning/during your IVA)
