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steveIOW
steveIOW January 06, 2012 16:32

IVA and Working Tax Credits

I am currently on an IVA and think I may be entitled to working tax credits. If I applied for and was awarded WTC would all or part of this have to be handed over to my creditors. ? It seems pointless applying for this benefit if Im not actually going to benefit from it.
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  • Nazma Noor EMPLOYEE
    Nazma Noor (Official Rep) January 06, 2012 17:03
    Hi Steve,

    Thanks for your question, I’ve spoken to the IVA supervisory team here at ClearDebt and they have advised that a full assessment would normally be conducted. This would take into account any essential increases in your expenditure before an increase would be applied to your IVA contributions, however you wouldn’t necessarily be able to keep the full entitlement.

    I would suggest you contact your Insolvency Practitioner for a review as you are obliged to maximise your income. Whilst you can’t be forced to claim the tax credit you should do so if your Insolvency Practitioner requests you to and if it is proven that you are entitled to the benefit.
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    good answer! good answer! (undo)
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