www.iva.co.uk

Afternoon, long time reader first time writer.
Just a quick question if anyone can help or offer any advice. I’ve recently been involved in a road traffic accident and was genuinely injured. I’ve been asked about claiming for compensation but I’m hesitant as it’s a lot of hassle for me to pay it to my IVA. Without speaking to my company as it’s not written in my terms and conditions would I be required to pay a 100% of the compensation into the Iva? Many thanks

Generally, anything not addressed in the IVA terms and conditions are dealt with under bankruptcy rules. Under those rules insurance compensation for pain and suffering ( it has to be specified as such) are allowed to be kept by the claimant. Most IP's do this automatically, some have to be persuaded and, indeed, some arrangments (non Protocol or R3 standard terms) allow the IP to decide.

If you are unsure, ask your IP and get the answer in writing (just in case!).

Thank you for the response!