Hi
I am currently on an IVA and have been for 1 1/2 yrs now , i am in the process of taking a car company to court and if i win i should get back about £8000 , which i will use to pay off my IVA . will the court automatically send the payment to the IVA if i win the case ?
I may be mistaken but I think youll find that money is going to be due to the IVA anyway and be classed as a windfall...meaning you wont be able to use it to end your IVA. Money for a full and final to close iva early needs to come from a third party...not windfall money of your own.
Apologies if I am wrong. Foggy will no doubt be a long soon to advise on this.
Depending on what the £8k is in respect of, there is a chance that it will belong to the IVA / creditors anyway and would supplement your payments but not be used to pay off the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
