windfall

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Blueskyforever70

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Post by Blueskyforever70 » Tue Sep 14, 2010 6:24 pm
Hi

Been reading this forum for sometime but this is my first post. I've been in an IVA since February and it's been going ok. However this month I've had to use all I've managed to save on getting my car reapaired. I've just heard that I have been left £1,150 in a will. I understand that this has to be handed over but would I be allowed to keep a small part of it in view of the car repair wiping out the amount I'd put by?

Any advice would be much appreciated.
 
 

Shining

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Post by Shining » Tue Sep 14, 2010 6:26 pm
Hi and welcome to the forum. I would talk to your IP and explain the situation, do you keep the first £500 of any windfall? It might be worth a read of your proposal.

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 » Tue Sep 14, 2010 6:31 pm
I agree with Lesley - speak to your IP, you might be able to keep some of it.
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
 
 

carlmcmullen

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Post by carlmcmullen » Tue Sep 14, 2010 9:34 pm
Sounds like this would be caught under the windfall clause, which would normally mean you get to keep £500.

Speak to your IP who can confirm
 
 

MelanieGiles

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Post by MelanieGiles » Tue Sep 14, 2010 10:09 pm
It will depend upon the express terms of your proposal, so have a read through and seek advice from your own IP if it is not clear as to how this money would be treated.
Regards, Melanie Giles, Insolvency Practitioner
 
 

MelanieGiles

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Post by MelanieGiles » Tue Sep 14, 2010 10:10 pm
It will depend upon the express terms of your proposal, so have a read through and seek advice from your own IP if it is not clear as to how this money would be treated.
Regards, Melanie Giles, Insolvency Practitioner
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