We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
IVA and cheques
Options

rodd-y-ler
Posts: 43 Forumite
in IVA & DRO
Question regarding the usual windfall clause in IVAs.
If I were given a cheque for £800, would cashing it in one of those independent cheque cashing companies ever show up anywhere else?
Paying it in to my account would obviously be visible and swallowed up by my IVA, but if I change it in to physical cash at one of these companies, then I can keep it (minus the company's commission)?
If I were given a cheque for £800, would cashing it in one of those independent cheque cashing companies ever show up anywhere else?
Paying it in to my account would obviously be visible and swallowed up by my IVA, but if I change it in to physical cash at one of these companies, then I can keep it (minus the company's commission)?
0
Comments
-
In theory, yes. However, these things do have a habit of coming back and biting on the rear end!
What is the cheque for ?0 -
Thanks, I sold my car (rust-bucket) and the guy paid by cheque, and I'm just concerned that if I deposit in to my bank, my IP and creditors will want it, and I need to put it towards a new car.0
-
I wouldn't think that this would bother your IP -- it's the sale of something you own, which was probably excluded from the IVA in the first place. My IP only looks at my bank statements for the three month period before a review, so my whole years accounting isn't checked.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards