Posted: Mon Sep 17, 2007 9:46 am
during the term of my iva, if i receive an insurance payout for an injury i received during a car accident will i have to declare and pay this into the iva?
Hi me3
That will depend upon the terms of your specific IVA. If your IP specifically excluded personal injury claims - on grounds that they would not be available under bankruptcy proceedings, then you can keep the money. Otherwise it will have to be handed over as a windfall I am afraid.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
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