we are in an iva, have received a compenstion payment for 6K. It is (mental health problems) NOT loss of earnings. Will this have to given to our creditors or can we keep it all??
There are no real hard and fast rules about this sort of thing - unless your proposal specifically provides for this - so have a chat with your IP to see how they feel about the payment. I rather suspect that you may have to hand it over as a windfall, unless there are mitigating circumstances which would make this seem unfair.
