IVA finished but worried about windfall clause.

shelene

Its sooo frustrating, i know i could open another account and have my money paid into that but I would be constantly worrying that I would get done for fraud or something if they found out and then my whole IVA wouldnt be settled and cannot under any circumstances have a criminal record - its frightening!

I have made the dreaded call to the company to ask 'what if??' and am waiting for them to discuss it with managers.

At the moment in theory if all goes well i get to keep my severance and start work with a new company as i have been offered a job (however different working hours so my childcare costs would go up) or.......

if the IVA company say despite paying all my payment over 5 years plus lump sum for in leui of equity, that all of it would need to be paid accross then their would be no point what so ever in taking it, and would try to revoke my application for severance and keep the same job.

Its a nightmare that my future employment, family life post IVA is in the hands of a decision that the company will make as once they come back with some sort of answer I will have to make my mind up of to try to revoke my severance application, and turn down the new job i have been offered,

or continue with my new employer - everything hangs in the balance!!:( arrgghhh.................:eek:

FoggyBrain_2

Many firms are, sensibly, considering that the debtors obligations have been met when all the payments have been paid across, whilst waiting for a completion notice that would, otherwise, have been issued, had it not been for the VAT ruling.

However, this would be no defence against a particularly aggressive creditor who might decide to go after the money --- as yet this hasn't been tested. Personally I would keep temptation out of their way.