Windfall or not

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Shining

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Post by Shining » Wed Jul 28, 2010 9:59 pm
My MIL has gifted me (well hubby) a holiday and I checked with my IP before cashing cheque in and it was sanctioned x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Wed Jul 28, 2010 10:03 pm
My daughter paid for a holiday for me and hubby last year. I didn't inform my IP as it was a gift and I didn't see the money, it paid for the holiday.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

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Post by MelanieGiles » Thu Jul 29, 2010 1:08 am
There is no need to hide this money. a sensible discussion with your IP about the unforeseen car repairs should do the trick and let you keep some or all of the money. Honesty is the best policy in my book.
Regards, Melanie Giles, Insolvency Practitioner
 
 

karen

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Post by karen » Thu Jul 29, 2010 9:30 am
Thankyou everyone for your comments,I know in my heart that I had to declare it and actually it was on my mind constantly so today I have emailed Payplan and I will keep you posted on what they say.
 
 

Shining

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Post by Shining » Thu Jul 29, 2010 9:40 am
Hopefully your car will be sorted Karen xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

karen

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Post by karen » Fri Jul 30, 2010 4:47 pm
Urghhhhh.....looks like I'm going to have to wait for my answer. Had an email from my caseworker who has passed my file on to my IP to make a decision about the £1400. I was hoping to sort this out before the weekend,although I am resigned to having to pay it over.
Also our fixed rate mortgage has come to an end and next month our payment goes down so we are waiting to hear if we have to pay that over as well...oh happy days.
 
 

Shining

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Post by Shining » Fri Jul 30, 2010 5:34 pm
Hopefully they'll answer you early next week Karen xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

MelanieGiles

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Post by MelanieGiles » Sat Jul 31, 2010 12:26 am
Why don't you try calling the IP directly?
Regards, Melanie Giles, Insolvency Practitioner
 
 

karen

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Post by karen » Tue Aug 03, 2010 11:19 am
Okay...had word back from my IP and I can keep £500 and have to pay the rest into my IVA as its classed as a windfall. At least I can keep £500 which is good. The reduction in mortgage payments I dont have to pay in ?? I must say I'm puzzled by that but happy. Equally
if the interest rates start to go up again this amount will have to be used to pay in the extra. My rate has gone down from 5.99% to 4.79% so I'm praying it doesnt start to go up too fast.
I feel much better for knowing I've done the right thing even though
I would have been very happy to have the £1400.
 
 

Simbel

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Post by Simbel » Tue Aug 03, 2010 1:40 pm
Helen is absolutely right - you definitely did the right thing! [:)]
 
 

kallis3

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Post by kallis3 » Tue Aug 03, 2010 5:01 pm
Great news Karen. Enjoy your extra money!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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