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Windfall
Posted: Thu Jan 11, 2018 9:27 pm
by anap
We have been in interlocking IVA's since November 2012. The Creditors agreed to the IVA provided it was extended for an extra year to six. At the time our IP (Melanie) thought that was unfair. How right she was! I've just won £10,000 which will have to be paid in to the IVA. Given that the extension was to increase the dividend to the creditors (my wife wasn't working at the time so the expected dividend was 15%) and we are now going to pay 68% or 89% with the windfall, do you think that they might accept this as a final payment?
Re: Windfall
Posted: Thu Jan 11, 2018 9:47 pm
by kallis3
Hi,
It will have to be paid across, and anything left over after paying back 100p in the pound plus fees and possible statutory interest will be payable to you
Re: Windfall
Posted: Thu Jan 11, 2018 11:16 pm
by anap
I never thought I would be so flat after learning that I'd won £10,000!
Re: Windfall
Posted: Fri Jan 12, 2018 7:36 am
by Foggy
As Kallis says the IVA payments will contnue until such time as the payments come to their agreed end or you pay back 100% of the original loans, plkus fees and possible statutory interest.