My husband and I had a secured loan during my, still active, IVA. We received a letter today saying we are owed £1641.22 as we signed a loyalty eward certificate and adhered to all terms and condition.
Freeman Jones have told me this is classed as a windfall and my total share should be paid in. I have a clause which says over £500 is payable but they insist because it is over £500 the whole amount is payable. This has come as a shock to me as have always thought I could keep £500 of any windfall. Gutted, I am nearly at the end of the line.
Sorry, no ... the windfall clause reads that a windfall under £500 you keep all of it.... a windfall over £500 you pay in all of it. You do not get to keep the first £500
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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