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Posted: Fri Feb 24, 2012 12:17 pm
by Yani
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
Posted: Fri Feb 24, 2012 12:31 pm
by kallis3
Hi Yani,
It's just one of things I think, nothing you can do about it. Each proposal is different.
Posted: Fri Feb 24, 2012 1:48 pm
by kazzafunk
I agree with Jan - it's all written into your proposal. Every one has different clauses - this is why it's called an individual voluntary arrangement.
Posted: Sat Feb 25, 2012 12:21 am
by Broke of London
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.
Posted: Sat Feb 25, 2012 8:38 am
by kallis3
Must admit that it doesn't bother me either. Unless I get a lottery win then I'll be receiving nothing over £500.
Posted: Sat Feb 25, 2012 2:24 pm
by Foggy
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 !