www.iva.co.uk

Hi

My husband may be due a personal injury claim - can this be used as a full and final settlement or does it have to go directly to the IVA?

It depends on what the payment covers in particular - some IPs insist it is used to enhance the iva payment to creditors whilst others don't. Your iva terms and conditions may outline their expectation - if not chevk direct with your IP.
Good luck and let us know how you get on.

Generally, though not always, a payment for pain and suffering is treated the same way as it is in bankruptcy in that you will be allowed to keep it. However, not all firms think this way and some will treat it as a windfall and will draw it into the IVA for the benefit of creditors.

If your IP is of the former opinion then, yes, you could use it towards a full and final offer.

As the others state you need to know how the compensation is split to know how much, if any, your husband might be able to keep.