Hi we are in an iva and looks like my husband will get a damages payout for pain and suffering due due vibration white finger caused by employers being neglegant. Have not mentioned to ip as its being ongoing for 4 years and we were told at one point there would probably be no payout. However we are now looking at approx 4000. Would we be able to keep this? There have been no loss of earnings
yes you should be able to keep it as it is for 'pain and suffering' only-if there was a loss of earnings this would no doubt be classed as a windfall and have to be paid into your IVA-I would run this past your IP in any case.
In bankruptcy compensation for pain and suffering are generally allowed to be retained. In an IVA many IP's follow this guidance, however, some don't and you really need to run this by your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
