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Posted: Fri Jul 24, 2009 12:06 pm
by suedl61
hi i am due some money to me after a car crash do i have to hand it all over to the iva people or is there any way around it
Posted: Fri Jul 24, 2009 12:19 pm
by Michael Peoples
You must inform your IVA supervisor about the compensation but you may not necessarily lose it all. Depending on what the award was for it may be exempt or even needed to replace your current vehicle. If any of the money is not captured by the windfall clause you could offer it as a settlement to creditors and have your IVA discharged early.