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IVA, Windfall, DWP
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Hey all! Hope someone can give me some advice! I'm 18 months into my IVA and I have a DWP debt that they wouldn't include so I'm paying that separately and in full (they said that this is due to it being money owed to the government). It's come to my attention that I'm due a windfall as such from a loan company that overcharged me 5 years ago. My preference would be that I can keep it, though in reality I'm assuming that I would need to declare it. My query is, would that need to go into the IVA or DWP debt? I'm assuming DWP as it's government. I've been trying to contact my IVA person but it's been difficult during this period. I'd like to think DWP, then adjust IVA payments once that's off my monthly outgoing.
TIA!!!!!!!
TIA!!!!!!!
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This advice from CAB says to inform your Insolvency Practitioner, if your financial situation changes. So I'd start there. Even if you have to wait to speak to someone, it's understandable if there's a delay, given the pandemic. Best to do it right or you could be in big trouble. https://!!!!!!/2Dc3tJ7Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.1
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Hi,
You are insolvent so you cannot have a preference unfortunately.
You MUST declare it, or big trouble can follow, your IP may agree with you that the DWP debt takes priority, or they may not.
Don't do anything until you have spoken to someone.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
Spoke the someone today! Very informative, turns out I might be able to use it to clear the Iva. He couldn't guarantee it but said I had a very good chance of it getting agreed, but he's not sure if DWP would get it. It would be the decision of the DWP too.
Thanks for your response!0
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