Compensation Payment

[kens]

Could anyone please advise, my wife and i are on the iva trail and things are moving along nicely touch wood it continues. Some eleven months ago i was injured a work and the issue of compensation is about to be decided.

Is any compensation payment paid directly into our IVA or do i get a little, the amout of compensation would be no more than 8-10k. Ifell i already know the answer new as i am to this.

[emma_t]

Hi kens

The only advice I could give would be to contact your IP direct and ask this as it will depend on the terms of your proposal.
You could also have a look at your proposal and chairmans report and check the terms, but to be sure contact your IP for clarification.

I hope your injury has healed ok now
Enmma

[MelanieGiles]

Compensation for personal injury is an exempt asset under bankruptcy proceedings, and can also be expressly excluded from your IVA, however there is nothing stopping you offering the money to your creditors if you want to improve your chances of acceptnce.

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

[Adam Davies]

Hi
Only your IP will be able to tell you.
Interestingly under bankruptcy your payout would be exempt and yours to keep.
Really should be the same in an IVA
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[kens]

Thanks to all