windfall

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Helhan

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Post by Helhan » Fri Jun 29, 2007 1:34 pm
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Would a windfall clause apply to any money the children inherited during the IVA?
Or a win on their premium bonds?
Thanks
Helen
Last edited by Helhan on Fri Jun 29, 2007 1:36 pm, edited 1 time in total.
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iva_squirrel

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Post by iva_squirrel » Fri Jun 29, 2007 1:53 pm
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Hello Helhan,


Their money would be protected as they would be held in trust for your children.


However your IVA will include a 'windfall' clause. Any assets, including lottery wins, bonus payments, gifts or inheritance have to be declared to the Supervisor and paid into the IVA for the benefit of the creditors.

Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
Last edited by iva_squirrel on Sat Jun 30, 2007 12:00 pm, edited 1 time in total.
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MelanieGiles

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Post by MelanieGiles » Fri Jun 29, 2007 2:02 pm
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No - your children's money is yours to keep, as are the savings bonds and premium bond wins! You might be able to persuade them to give you a lump sum to pay off your IVA though!!!

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
Regards, Melanie Giles, Insolvency Practitioner
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Oliver

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Post by Oliver » Fri Jun 29, 2007 4:02 pm
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These monies would be protected as they would be held in trust for your children.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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BlueShoes

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Post by BlueShoes » Fri Jun 29, 2007 8:30 pm
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Well wouldn't a substantial win on their premium bonds be a dream come true?
We can live in hope!
Blue
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