Hi,
Can anyone advise, how come some IVA companies let you keep up to £500 windfall and others dont let you keep nothing? Shouldt this be regulated by the Ministry Of Justice, there seems to be no justice at all.Thanks
It's just one of things I think, nothing you can do about it. Each proposal is different.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I try to focus on what is kindly being written off rather than what I need to pay in. I can't get worked up about £500 when a couple of thousand plus all the cancelled interest will be written off. I did get worked up about the discrepancy between annual and monthly bonuses though! Still - even that was pretty small fry in comparison to the write off value and i was pleased to pay it.
Must admit that it doesn't bother me either. Unless I get a lottery win then I'll be receiving nothing over £500.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi Yani -- the devil is in the detail ... you are only allowed to keep a windfall (assuming this is in your proposal) if it is under £500. You don't get to keep the first £500 if it is more than that.
So, if you get £499 it is yours ( again subject to what is in the proposal) if you get £501 it all goes to the IVA !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
