ppi > are thety classed as windfalls

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niallj

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Post by niallj » Sat Jan 14, 2012 9:01 pm
Hi, I may be entitled to receive some money from a ppi claim, this is from a loan settled before we entered into an ,would this be classed as a windfall?and if so would we be able to keep 50% or would it all have to go towards our IVA,
 
 

Foggy

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Post by Foggy » Sat Jan 14, 2012 9:18 pm
Hi. I am afraid it would be treated the same way as a windfall and will be payable into 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
 
 

kazzafunk

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Post by kazzafunk » Sat Jan 14, 2012 10:03 pm
Hi Jacko

As foggy says, you'll probably need to pay it all into the IVA pot as it's seen as an available asset.

Best discuss it with your IP.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
 
 

kallis3

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Post by kallis3 » Sun Jan 15, 2012 9:43 am
Hi jacko,

You may find that the money is paid directly into your IVA without you seeing any of it or the original company may use it to offset against their loan.

Either way, your creditors will be getting a higher return which has to be good!!
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
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