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1. You should go ahead and cash the cheque as this PPI claim has only come to fruition after the end of your IVA period and as such, it is not caught by the provisions of your IVA. Essentially, an IVA only runs for a certain number of years and now, when it is six years after the IVA a claim which comes to fruition today from that period is not caught by the IVA. Essentially, the IVA does not last forever as it is only designed as a means to satisfy your creditors at a certain point in time. Now that time period has passed, you essentially have exited the insolvency procedure so monies accruing today, even from several years back, no longer fall within the terms of your IVA. So, you can just cash the cheque and do what you want with the proceeds without worrying about your old IVA creditors.
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