Will accident compensation have to be paid into IVA. If so, will it shorten my IVA years ?

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Sarahdsk59

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Post by Sarahdsk59 » Fri Jan 24, 2014 7:37 pm
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Hi i have an iva. I was in a car accident in october and may claim compensation. Would all of this have to be paid into the iva. If this does will this shorten my iva years.
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Adam Davies

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Post by Adam Davies » Fri Jan 24, 2014 7:47 pm
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Hi and welcome

It will depend on your Insolvency Practitioner, if they feel that any award is for pain and suffering then you may be able to keep it. if it is paid into your IVA it will not reduce the term unless you have paid all of your original debt plus any IP fees

Regards
Andam Davies
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Sarahdsk59

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Post by Sarahdsk59 » Sat Jan 25, 2014 8:38 am
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Thank you for the reply I'm with freeman jones
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Radish

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Post by Radish » Sat Jan 25, 2014 9:57 am
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I hope you get to keep it all. Its for pain and suffering at the end of the day and it seems unfair to have to hand these sort of funds over.
IVA complete March 2014 after 6 years.
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Sarahdsk59

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Post by Sarahdsk59 » Sat Jan 25, 2014 10:08 am
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Hopefully that would be a bonus. I should be twinge free by may. Hopefully no more physio. I need to get my training back on form
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Robbieboy

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Post by Robbieboy » Sun Jan 26, 2014 12:11 am
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I am with Freeman Jones and my proposal says it is mine for future physio etc, accident happened before IVA and still not settled but I live in hope!
I know I am a good person, I just need to start believing it

See my blog - Life was a misery until now
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Sarah Jolly

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Post by Sarah Jolly » Mon Jan 27, 2014 9:48 am
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Hi Sarahdsk59

I'm sorry to hear about your accident.

Andy has already mentioned if you receive compensation for pain and suffering this usually won't need to to be introduced into your IVA.

We would however need to confirm this after checking your proposal, please do let me know if we can help by getting in touch. My email address is Sarah.Jolly@freemanjones.co.uk.

Thank you
Sarah
Sarah Jolly IMA CMAP - A member of the IVA team at Freeman Jones
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