www.iva.co.uk

I had my creditors meeting on April 30th and it was approved with modifications although I don't see what the difference between this agreement and what I was told before the meeting were. Clydesdale and HSBC accepted and capital one, and asda and paypal credit cards rejected but the overall acceptance was over 80%.

I have not yet made my first payment towards this though, it should go through this week though. Does the duration of my IVA start from the date of my first payment and last until the 60th?

Another few questions: What is classed as a windfall? If I win £5 on the thunderball they wouldn't want me to declare that surely...and if I won more than my debts worth I'd pay my creditors back in full gladly - but something in between (like for example £100) wouldn't put a dent in the debt so would I still need to declare it? I'm aware of bonuses and overtime - I need to declare those within 14 days and would be expected to pay 50% of the extra to my creditors. I believe gifts don't count as windfalls either, is that true? Also, if I didn't declare a large lottery win that would give me a little breathing space but again wouldn't put a dent in the debt would my IP find out?

Had a weekend with the family and they asked me these questions and I had no answer to them...so I hope someone can help here

Hi congratulations

I cannot answer your questions but wanted to welcome you to the forum.

xx

hi royster

first and foremost a big congratulations on you iva approval. i am so pleased for you.

as for the other questions you should have all the answers in the correspondence you received eg the chairmans report!
asn expert should be able to answer your questions though!

congratulations again

love barb x

Congratulations on your IVA. I've just started mine as well and it' a good feeling after all that worry.

With mine, I have to declare any windfalls over £500, so a small lottery win would be ok. As to not declaring a larger one, I don't know if there would be anyway your IP could find out so I think they should all be declared

Hiya, I just to welcome you to the forum. One of the experts will be able to answer your questions
Good luck with the other 59 payments..
xx

Welcome to the forum Royster, I just wanted to say congratulations and good luck for your debt free future. This forum is great for support so keep posting. Viki X

HI Royster and welcome to the forum.

I believe you might just be one of my clients and so, as a result, believe that client confidentiality prevents me from answering your questions in detail. Please feel free to give me a call to chat through the points you raise.

Ian

Hi Royster and congratulations on getting your IVA approved.

In reality a lot of the creditor modifications which are flying around at the moment do not change the flavour of the IVA a jot, but they seem to like them so we have to accept them!

The duration of your IVA will be dictated by the terms of your arrangement, but you will need to pay 60 payments so the sooner it starts the sooner it ends.

As you are a client of Ian's he ought to answer the other queries you have raised directly, as they are case specific and he will have the answers you are looking for immediately to hand.