We have 5 months to go in our IVA and have just had our house valued. There is no equity (as expected) and GT (who have been brilliant for us) have confirmed we don't have any deminimis payments to make. I see 5 more payments ahead and then what? Assuming my final I&e is accepted and I don't owe anything from this year, will I just need to wait for the completion certificate and I am completely free? Do GT have any claim on any money earned once I finish month 60? It's getting so close now!
Hi and well done on getting this far. Confirm, nearer the time, the date of your final payment with GT. Then cancel the DD. There are times when some money due comes to light ( missed overtime or some such ) but this is usually easily sorted.
You will still have to pay in anything like PPI due and GT will hold you to windfall clauses until they issue the completion certificate ( lottery wins, inheritances, etc.). But, after that final payment, wages, overtime and bonus payments are yours and of no further interest to your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
