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IVA -compensation
sobek99
Posts: 4 Newbie
Hi,
Myself and my wife are currently in an IVA. Prior to entering into the iva we were involved in a road traffic accident. We are soon due some personnel injury compensation. My question is: will we be allowed to keep this money or will it be deemed as a windfall and taken by our iva administrator.??????
Myself and my wife are currently in an IVA. Prior to entering into the iva we were involved in a road traffic accident. We are soon due some personnel injury compensation. My question is: will we be allowed to keep this money or will it be deemed as a windfall and taken by our iva administrator.??????
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Ask you Insolvency Practitioner they will knowMoved to Denmark for FIRE by Aug 2025 “May your decisions reflect your hopes not your fears”
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sobek99 wrote:Hi,
Myself and my wife are currently in an IVA. Prior to entering into the iva we were involved in a road traffic accident. We are soon due some personnel injury compensation. My question is: will we be allowed to keep this money or will it be deemed as a windfall and taken by our iva administrator.??????
As far as I am aware, you are not allowed to keep any of the payment that is for your own personal compensation. So, for example, if part of the payment is for damage to a house/car/medical bills etc, you would be allowed that but the "personal" portion is taken 100% into the IVA.
Do check with your IVA.0
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