Making an insurance claim while on an IVA?

jeccy_2

I'v recently been involved in a car bump which was caused by a 3rd party, and during which I suffered partial whiplash to the left side of my neck. The other party have confirmed this and I have seen their designated physio etc while this goes ahead.

My question is; if they pay me compensation, do I need to declare this with the IVA I'm currently on?

Many thanks in advance and keep it up

DrSqueeze

Firstly, sorry to hear your news - best wishes for a rapid recovery.

As for the potential compensation, this may fall under the "windfalls" category. Check the windfall section of your IVA document and speak to your IVA supervisor. However, I believe there are some exemptions for personal injury claims when dealing with bankruptcy, it's possible they may apply to IVAs as well.

If you need to use a substantial amount of it for medical treatment / other additional costs then you should also make the IVA supervisor aware of this.

FoggyBrain_2

Hi. Basically the compensation for loss of earnings comes under the windfall arrangements, but payment for "pain and suffering" is yours to keep. Of course the compensation for repairs will be discounted as that will have gone on repairs. Your IP will need to be informed.

spaceman5

what a strange world we live in, how can somebody have a car crash that is not there fault, get a bit of a payout from it and that payout be classed as a windfall?, its not as if the op has gone out to deliberately get somebody to crash into them, in a get rich scheme, or is that what the iva companies seem to think that everybody would do if given the option:eek:

FoggyBrain_2

I suppose, Spaceman, that it could be looked on in much the same way as a bit of good luck ( lottery win) will bring in money that has to be paid over, so should a bad luck income. At least that portion for the REALLY bad luck ( pain and suffering) is safe.