hello im in my iva for the first year and soon will be coming up to my review the question is on my bank statements here and there i have credits from my paypal account various sums around £30 up to £100 over a course of a month but never has been more than £200 in any month, these are from playing on a online poker site which i have been winning these small amounts, there is no deposits into the site as i haven't and needed to make any. will this cause a problem with my iva? my bank statements have no gambling transactions on them at all just these small wins transferred from paypal, i been playing poker for some fun and been a little successful and no major wins as i only play micro stakes and had good bankroll management being successful.
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
I doubt these will be looked at at those levels unless gambling played a part in your needing the IVA in the first place. You could well be using Paypal to be selling surplus household items on ebay.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
thanks for quick response, yes i think it should be ok and anyway when i did my first income expenditure they included my overtime that month so my monthly income has been £160 down some months so i was ready to offset any money against this. i didn't bring it up that they got basic income wrong at the time as its allowed me to do overtime cover shifts with out the worry of the 10 percent 50/50 clause as my role is compulsory overtime when it is there, can i ask what would be a amount classed as significant windfall? also i think people may understand that i don't want to ring up my practitioner and ask i have won some money on a gambling site are you entitled to it
Anything up to £499 is usually yours - anything after that will be classed as a windfall.
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
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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
this is based on month to month? my records show i have made $2700 in the last 12 months which is $225 month around £175 english money, so i have no worries then. again these are small amounts that add up
Not meaning to sound condescending in anyway - please make sure the online gambling does not become an issue - very easy to full into the trap when winning small regular amounts to just increase the stake a little more and a little more and before you know it, it has become a habit.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I think you have little to be concerned about and the money is yours to keep. Each win is a separate windfall in its own right so unless there was a win over £500 then the money is not captured. Perhaps your IP will not even look at the bank statements anyway as we do not ask for them.
