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Posted: Tue Jul 31, 2012 10:44 am
by Alison.j
I am one year into an Iva, and I am waiting on a decision on ppi. If I am awarded this money, am I able to keep any or does the Iva company take all of it.
Posted: Tue Jul 31, 2012 10:49 am
by MelanieGiles
Hi Alison and welcome to the forum
The answer to your question does depend upon the terms of your own IVA and how assets are treated. Best to discuss this with your own IP who has detailed knowledge of your case.
Posted: Tue Jul 31, 2012 10:50 am
by Shining
Hi and welcome, it is usual that this will be a windfall and therefore payable into your IVA for the benefit of your creditors.
If however it clears the original debt 100% including IP charges any remaining amount would be yours.
Posted: Tue Jul 31, 2012 10:51 am
by Shining
However, as Melanie states all cases are individual and it is best to take case specific advice from your IP