Hello,
I have recently been in a car accident and I am awaiting a payment for whiplash injuries. Around £2000-2500 Does this information need to be disclosed and does it need to be paid across to the IP? As this is an injury claim I would class it as a windfall? Your help would be most appreciated.
Sorry to hear about your accident and hope you are fully recovered.
You need to speak to your IP about this payout as it may well all be taken as a windfall.
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Some conflicting advise?? Surely this should be black and white?? i.e part of all agreements as standard?? The payment will only be for injuries as the car was fixed.
Speak with your own IP for specific advise for you, however my understanding is if the money is paid for an accident it will depend if income was lost etc - if income was lost then it is likely to be yours to keep, however if income was not affected and no additional costs were incurred etc it may be claimed under the windfall clause.
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I think with any monies received whilst in an IVA it's best to keep your IP in the loop, they're best placed to know what can be retained and what needs paying over and prevents anything jeopardising your IVA.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I did contact my IP who went very quiet and said that I would have to phone back on settlement. As it depends on the payment?? I dont think I will fully ever get paid for my injuries and I still have problems. I dont really want to fight this with the insurance company if it is all going to creditors. Reason being I am still injured and will likely have ongoing problems for the rest of my days far outliving my IVA. I have spent time which I have will have to work back (doctors, physios and assessments) that isnt covered by the payment and it all seems in vain and a waste of my time??
Scimi - I don't think their answer is sufficient. I would write to them to ask which parts of any 3rd party compensation will need to be paid over to the IVA and which you can retain. I was injured in an accident 14 years ago and I am now suffering all sorts of problems so really I would not settle for as long as you can hold out for so you can make sure you are not selling yourself short.
Hi
I was in a car accident 3 years ago which we have only just settled. I was told that anything awarded above £5k would have to be paid into the IVA. Speak with your IP again and I hope you recover soon
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Our IVA's over YIPPEE unbelievable!Seems like yesterday it was approved despite everything
I find this all rather confusing?? IVA mentors point towards the money going yet IVA artisans point to a silver lining?? I would like to think that the artisans are correct. However, why is there no silver lining from the IVA mentors?? the £5k is interesting reading? Is this statutory or a guidline or something they may have been in my small print???
