compenstion payment for personal injury

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Post by marie.5 » Fri Aug 13, 2010 9:48 pm
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??


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Post by MelanieGiles » Fri Aug 13, 2010 11:43 pm
Hi Marie and welcome to the forum

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.
Regards, Melanie Giles, Insolvency Practitioner
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