income from a medical trial

[ivadenuff]

Hi, i am considering taking part in a voluntary medical trial, where i would be paid for my time. The money from this would be useful for a contingency fund if/when something unexpected occurs. How much of this money would have to be paid into the iva? thanks in advance for any help...[:)]

[carlmcmullen]

Depends on how your proposal was drafted and what modifications were put forward.

Normally as a rule 50% would be taken from you, however i belive if you earn under a certain amount then you would not have to pay any in, but i am sure an expert will clarify what amount this is.

If your lucky and it was not put in your proopal and creditors didnt ask for this as a modification then you should be able to keep it.

Dont medical trials only pay out of pocket expenses ?? if that is the case you keep it all.

Carl

[ivadenuff]

Thanks Carl, I'll check my proposal, this particular one pays expenses plus a certain amount per day for the duration of the trial. Not sure if they all do though...

[MelanieGiles]

As Carl says - the answer to your question will lie in your IVA proposal and Chairman's Report, so have a hunt through to see what they say and then have a chat with your IP as well. I am sure that if this is a fairly modest sum, most IPs would turn a blind eye to it to be frank.

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
I thought about this a year or two ago but do you remember the story of the three[?] people that had horrendous side affects after agreeing to a similar trial ? They nearly lost their lives.
I think I'd want the whole payment to myself for such a risk.
regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

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

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

[Skippy]

A friend of mine's dad has done a lot of medical trials and made loads of money doing it.

I remember that trial Andy - I don't think they could pay me enough to risk my life like that. I read the story of one of the men and it was horrific - he is younger than me but doesn't know how long he'll live for as the doctors don't know how much damage was done.

Anyone that does it is braver than me!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Lisa2009]

I have been in a drugs trial for almost 2 years. I dont get paid for it and never have. The only reason i agreed to it was because they said it was very successful in other countries and would be the best chance i had of slowing down my condition and not ending up in a wheelchair for the rest of my life.

mrs skint

[emma_t]

I was reading an article a while ago on taking part in trials and must admit I was tempted myself if I had time.
Some are very safe but these tend to be paid at a lower rate, you can get a lot for some but then is it worth it after what happened to the case you were all refering to. I would be so scared although I know the chances of anything going wrong are very minimal.

It is invaluble though as these drugs would never get to help people unless tested...