Iva and windfall

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Worried35
Posts: 8
by Worried35 » Sun Aug 19, 2018 6:39 pm
Foggy wrote:
It is not possible to be definitive .. one year they might ask for 3 months, another year they might decide 6 --- if they are looking for something they could ask for them all !


Thank you Foggy
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Lisa Thomas
Industry Expert
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by Lisa Thomas » Mon Aug 20, 2018 8:38 am
If you don't declare this then you could breach and fail your IVA. Also the Executors will have a duty to check whether you are in an IVA and hand the money over to your IP.

You need to be prepared to lose the windfall, unless and until the total debts, interest and costs have been paid in full - then you should receive any surplus back.
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