HMRCBFAIR wrote:i'm just struggling with the logic (as well as seeing £10k disappear - it certainly felt like a windfall)
You seem to be saying that i am never free of the IVA? until 100% paid
This was not an "asset" during the lifetime of the IVA it has become one after the event.
What if i now get a payrise? do we recalculate the whole IVA again as to what i can now afford?
No -- you are missing the point
-- Payrises since
completion, or lottery wins, or somesuch happened after
the completion date and are, therfore, not captured by the IVA as was. PPI, even though you didn't know about it, did exist
during the IVA ---- call it a windfall if you like, but 100% of qualifying windfalls are payable too -- I used to take issue with this, viewing it as nothing more than a "potential asset" until such time as it was agreed and paid, but 7 years of looking at various arguements have changed my view.
Your only tie to the old IVA is PPI ( which ends next autumn anyway ) or if you inherited anything during
the course of the IVA and don't yet know about it.