im off the understanding that a windfall over £500 has to be paid into a iva? but im not talking these kind of wins thanks
kallis3 wrote:Anything up to £499 is usually yours - anything after that will be classed as a windfall.
To be clear, the windfall clause is normally operate thus: Win of £499 = all yours. Win of £501 = all the IVA's. You do not normally get to keep the first £500, but £500 is the trigger point. I have, however, seen one instance of the first £500 being kept. The devil is in the detail of your own clause wording.
Who is onlineUsers browsing this forum: No registered users and 6 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location