No windfall clause in IVA???

[fiery-broken-soul]

Hi is anyone else with payplan? I ask because my partner has been bought out of his employment contract under a compromise agreement due to long term illness he had a black out and because of the DVLA we are waiting to hear if they will revoke his licence for a year (he was a HGV driver) we're 90% sure they will. Payplan have said the money is classed as windfall and not redundancy. We phoned them twice to get advice and told them it was a compromise agreement both advisors told us prior to receiving the money that we could keep it which is relatively small just shy of 5k which was no where near his 6 months of his original income hence them saying we could keep it. Once we declared the money they changed their tune completely and said it was classed as a windfall and they wanted all of it. Only 2k of the money was a compensation payment the rest was pay on lieu of notice holiday pay owed and wages. I have to declare all this income to tax credits and benefits which means I will lose some tax credits and possibly some benefits. We tried explaining to payplan that if we don't retain the money the plan will fail in a few months as it will be very hard for my partner to find work due to no licence and he will end up going bankrupt anyway. We've read the entirety of out IVA terms and can't find a windfall clause at all the word isn't even mentioned. Therefore if there is no windfall clause how can they expect us pay up? I will happily post our terms and conditions for you to see.

[fiery-broken-soul]

Thanks for the none replies? They ended up letting us keep all of it which is a huge relife.

[Foggy]

Hi Fiery-broken-soul. I am sorry that you got no replies. This forum is populated by people who post voluntarily in their own time, maybe the weather has most outside instead of in on the computer --- but I must say, it is rare to not get a response, again, I apologise.

I am glad that Payplan have allowed you to keep the money.

[back on track]

sorry that you did not get a reply straight away but it was only up for a day.keep asking and you will get the answers as soon as somebody actually knows one.

[Michael Peoples]

I did not reply because I read the first line asking 'is anyone else with Payplan?' and moved on to the next post as I assumed it was a question directed at Payplan clients.

I am glad you got to keep the money and it seems the correct decision so hopefully now creditors will allow the IVA to close as full and final based on payments made to date.

[Shining]

Hi, glad you got to retain the money - have to admit I missed the post