windfall

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dennis

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Post by dennis » Fri Dec 14, 2018 7:25 pm
we're in my agreement would it state about paying any windfalls or overtime into the iva? as I have read through my agreement and I cannot see were it mentions windfalls or overtime payments I have also had a barrister look at the agreement and he couldn't see anything either .

Foggy

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Post by Foggy » Fri Dec 14, 2018 8:38 pm
Do you have a "Protocol" agreement ( it should say on the front page what terms are being used ) ?

If so it will refer and be governed by the Standard Conditions.
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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Foggy

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Post by Foggy » Fri Dec 14, 2018 9:21 pm
In the post 2014 conditions overtime is mentioned at Part 3 : 8 (7)

Windfalls are included under the umbrela of "after acquired assets", defined in Part 1: 1 (f) Then Part 3: 8 (3)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Sat Dec 15, 2018 9:40 am
I agree with Foggy - you will have to pay across windfalls over £500 and also some of your overtime (usually 10% to you plus 50/50)
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

dennis

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Post by dennis » Sat Dec 15, 2018 1:22 pm
Foggy wrote:
Do you have a "Protocol" agreement ( it should say on the front page what terms are being used ) ?

If so it will refer and be governed by the Standard Conditions.
hi foggy
it states 2010 protocol

Foggy

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Post by Foggy » Sat Dec 15, 2018 1:44 pm
The references will be around about the same places. Your proposal will state that it is governed by the Standard Conditions.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Mon Dec 17, 2018 12:43 pm
Look at the after Acquired Assets section of T&Cs as Foggy has mentioned above.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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