IVA and cheques

rodd-y-ler

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)?

FoggyBrain_2

In theory, yes. However, these things do have a habit of coming back and biting on the rear end!

What is the cheque for ?

rodd-y-ler

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.

FoggyBrain_2

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.