IVA - Compensation “Windfall”

Hi, I am in my final 9 months of my IVA, and have never missed a payment. Late last year I submitted a compensation claim for historical childhood sexual and physical abuse which lasted almost 15 years. I was wondering what happens to this compensation if awarded to me. I have already informed my IVA company reference this and despite repeated emails they have not responded. I will not be receiving any compensation for loss of earnings, and it will predominantly be for pain and suffering. I was hoping to use the money for private therapies and rehab to help with my PTSD, mental health issues etc. As it stands, the last communication from the Legal Dept ref the compensation. is that it will be a lengthy process, with no real timeframe. I was not able to leave making the claim until a later date, as there was an expiry date for the claim to have been made by. I was just wondering if anyone had any advice regarding this or any experience of pain and suffering compensation payments whilst in an IVA. Many thanks

Comments

  • fatbelly
    fatbelly Posts: 22,660 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier

    Insurance claims can provide an exception to the windfall clause. 


    The element of any payout awarded for pain and suffering can be retained by the injured party, but any payout for loss of earnings must be surrendered to the supervisor.


Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.1K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243K Work, Benefits & Business
  • 597.4K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.