Post IVA Windfall

Gav75

Hi


I have an issue I need an answer to before I make any decisions.


I completed my IVA earlier this year with a one off payment from my partner which closed the IVA in full and final settlement. Unfortunately it took a few months to sort out, but I received my completion certificate late September of this year, which was a massive relief.


Anyway, sadly my grandmother died in the first week of October, and I was left 50% of her house, which my sister who has the other half, wants to sell, which is fine.


My question is this, I will still be on the Insolvency Register until late December/early January (3 months?). So, if the house sold before I was off the insolvency register would I have to give some of the money (estimate a total of £100,000 for me) to my IVA provider or someone else who takes an interest in the insolvency register?


On the other hand, if it sells once I'm off the insolvency register, will anyone take an interest in the £100,000? For instance when large deposits go in your bank they usually ask where it came from etc. Will my bank tell my previous IVA provider?


Confused because my sister doesn't know I have an IVA and due to the above I'm not 'Full Steam Ahead' about selling the house.


Thanks in advance.

sourcrates

Hi,

Makes no odds been on the insolvency register, the windfall clause of your IVA ceases to apply on receipt of your completion certificate.

So you are in the clear.

Gav75

sourcrates wrote: »

Hi,

Makes no odds been on the insolvency register, the windfall clause of your IVA ceases to apply on receipt of your completion certificate.

So you are in the clear.

Thanks so much for this. If only I'd found this forum a couple of weeks back I wouldn't have been worrying all month. Thanks again!!!

PrettyKittyKat

You have a f&F accepted and have your completion certificate... you are all done and dusted so no need to pay anything in!