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I am in an IVA at the moment.We have a secured loan in joint names and are due a 100% cashback on insurance premium shortly.Is this considered a windfall and payable to the IVA creditors and if so are they only entitled to 50% as loan in joint names.

Hi ss

Yes, the return of monies from this source is classed as a windfall. I would agree that there should be a 50/50 split if your partner is not in an IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk