www.iva.co.uk

Accident at work?
I have been searching all the forum for about an hour trying to look for an answer to this, can someone point me in the right direction.
I had an accident at work and are due a £4000ish payout, i am currently in my first year of an iva, how will this payment affect my iva? will i be entitled to keep it or some of it?

Hi Shane

I know this has been answered before, but I am sorry i can't remember the expert response.

If you wait around a while someone will answer your post and let you know where you stand with this payout.

Hope you are fully reovered now[:)]
Emma

I think I read on a post somewhere that it would be classed as a windfall in an IVA but in bankruptcy you'd be allowed to keep it. I am sure an expert will be along soon !

Personal injury claims are exempt from bankruptcy proceedings and therefore your IVA proposal might specifically exclude them as well. You will need to check or take guidance from your IP with regard to this. If not, then I am afraid that the money is a windfall which will need to be declared and paid over to your IP for the benefit of creditors. Some proposals allow for you to keep the first £500 so do check.