Technically the IVA isn't completed until that completion certificate is issued, so, in theory, any windfall between the last due payment and the certificate being issued would be treated as an extraordinary payment due 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
Most of the others on here aren't going to like what I say but here goes.. If it were me, as long as I didn't have to hand over that payslip or a bank statement with the info on it..ie last 12 months was October 2010 to September 2011 I would keep my mouth shut and play dumb.
Before my completion cert was issued in February after my F&F in october, I had to sign a declaration to state that I had received no monies that might be classed as a windfall. Once signed completion cert was issued.
It isn't complete until that certificate is issued - you should always be upfront and honest with your IP. You never know if it may come back and haunt you before that certificate is issued.
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
Leese wrote:
Most of the others on here aren't going to like what I say but here goes.. If it were me, as long as I didn't have to hand over that payslip or a bank statement with the info on it..ie last 12 months was October 2010 to September 2011 I would keep my mouth shut and play dumb.
Each to his (or her) own. Personally ( as I have oft said before, and no doubt will again .... and again [:)] )I have had enough of financial worry and looking over my shoulder to last me this lifetime and the next. Being upfront means nothimng is going to come back and bite you on the bum in the future .... new, clean, worry free start [:)]
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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 agree with the bit about paying back what you owe, but on the flipside i have very little respect for the banks. On many an occasions i went to my bank mamager at the time asking/pleading for help, they would then offer myself yet another loan to consolidate overdraft/loan. This at the time i took as was the only way out according the them. I believe i was known in the trade as a "revolver" and the banks like these type of people. My last point is the fact that we as tax payers pretty much own most of the banks, the country is in a complete state due to the way they have offered effectivly free money to anyone who wanted it on the "never never" then to top if off they avoid paying back the handouts the taxpayers gave them by offsetting the profits on the losses of previous years. At this point i am stuck on the fence with morals and selfishness
I understand what you are saying lizardking, I have no respect for the banks or my creditors either anymore, however, we have taken the IVA route for the protection it offers and feel committed to abiding by the terms we signed up to, how would you feel if your creditors decided to break the terms of your IVA and demand extra payments outside of the IVA from you?, this is essentially the same as you are suggesting trying to hide your windfall from your creditors.
At the end of the day, you did spend the money and if you can afford to pay it back, then you should
need to smile today? go on check out my blogs - I'll add to them regularly
Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
My bank wouldn't help when I asked for it - they suggested I remortgad so I could pay them back. I did the remortgage but they saw nothing of it!
I blame myself totally for my debts. I didn't have to take it, I was the one who asked for it and I want to pay back as much as I can.
I would never try and hide a windfall - as BOL says, she'd be worried that they'd find out and she wants to pay them back as well.
I think the majority of us on here think like that.
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
need to smile today? go on check out my blogs - I'll add to them regularly
Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
As an Ip has pointed out tonight due to the VAT fiasco, once the obligation is fulfilled, your income is your own and any windfalls are yours as well. So come the last payment everything is yours....
ITS OVER WE ARE FINALLY DEBT FREE, CERTIFICATE ARRIVED
Vinnie - I don't think these are the same sort of circumstances. The VAT thing is nothing to do with the normal closure of accounts which is normally tying up the loose ends and awaiting claims.
With those, until you get that completion letter, then any windfalls and bonuses would have to be declared.
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
All I was tryiing to say is that a post from an IP has stated that all winfalls and overtime are your own after the end date. The VAT thing is just an example. Good luck xx You will need it
ITS OVER WE ARE FINALLY DEBT FREE, CERTIFICATE ARRIVED
