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Posted: Sat Jan 14, 2012 9:01 pm
by niallj
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,
Posted: Sat Jan 14, 2012 9:18 pm
by Foggy
Hi. I am afraid it would be treated the same way as a windfall and will be payable into the IVA
Posted: Sat Jan 14, 2012 10:03 pm
by kazzafunk
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.
Posted: Sun Jan 15, 2012 9:43 am
by kallis3
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!!