car accident

[shorts55]

Hi have looked at previous answers and have not seen any thing to compare with so if this question has already been raised i apologise.

I entered into an IVA 21 months ago. I have paid it reguarly. However 19 months ago i had a car accident and have in total been off work on and off for 16 months the last being 12 months. I have just recived my review and I am unable to pay as My accident has left me with injuries that i am now able to return to work but part time and my anual salary will be Aprox £17000 less than i was earning. However the Accident was not my fault. I am due to see the consultant who is court bound in the next couple of month to access wether due to my injuries i will only be able to work part time forever or if in two years time i can resume a full time position. However if i can resume full time i will not be able to earn my present salary. I am due to receive from my accident out of pocket expences-injury claim-loss of earnings. I have £21.000 left to pay on my IVA.

I will however have to have some sort of treatment for the rest of my life to keep the injuries sertained in the accident. Please can you tell me if All my payment awarded to me will be taken into account when i settle my claim, or will they allow me to keep the amount required to cover the cost of my living at present, as the diffrence aprox in salary a month will be £1000.and will they allow me to keep some of the money to cover unexspected medical condtions i may suffer in the future due to my accident. Thankyou

[MelanieGiles]

You will need to check the terms of your own IVA with regard to the treatment of personal injury claims, but I would have thought that allowance ought to be made for the additional costs of living and your income shortfall.

You might also like to know that the proceeds of personal injury claims are exempt from the alternative bankruptcy proceedings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp