I have just been awarded p.i.p that I've been fighting for since June of last year and am entitled to a backdated amount of £4200 my iva started in March this year do I have to pay all of this amount to my iva?
You need to speak to your IP and see what they say.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Different IPs treat PIP differently. Many will simply count it as income and then offset it right away with corresponding expenses the PIP award is designed to cover. Some will do this as a lump and some will want to split the expenses down into different categories. This, of course, relates to ongoing payments. How they will treat the back payment lump sum is up for debate. Logically, if they are an IP who simply offsets the PIP element of income with correspondimg expenses, they would allow you to keep the payment .... but logic doesn't always wash in an IVA.
The upshot of this balthering on my part is that only your own IP can advise which way he or she will jump. I would, if you would be so kind as to let us know, love to find out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk