www.iva.co.uk

What whould happen to a reduncey pay out?

If you where to win some money for example, to complete the IVA early would you pay back the origional amount or the amount agreed for the iva?

many thanks

Hi Chris and welcome to the forum

If you are made redundant whilst in an IVA, the redundancy money is to be used first and foremost to cover your lost income. If you get a new job in the meantime, then any surplus money would need to be handed over to the Supervisor for the benefit of your creditors.

If you won any money, this would already be caught under the windfall provisions of the IVA - and thus paid over the Supervisor to the extent of the full amount you owe to creditors and the costs of running the IVA.