How much insurance money can I keep when in an IVA

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1


User avatar
Posts: 1
Joined: Thu Mar 15, 2018 8:06 am

Post by david481 » Thu Mar 15, 2018 8:06 am
I have insurance money coming very soon for a knee injury from 2014
My loss of earnings was only around £1200 but the claim is £12,000 how much will I be able to keep


User avatar
Forum Expert
Posts: 74112
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Mar 15, 2018 8:28 am
I think you are allowed to keep money paid out for pain and suffering but not for loss of earnings as far as I am aware. Hopefully one of the other experts will have more knowledge.
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.


User avatar
Forum Expert
Posts: 28111
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Mar 15, 2018 9:31 am
There is no specific way insurance compensation is treated in an IVA, but IP's tend to follow the usual pattern as used in bankruptcy cases, which, as Kallis says, is that compensation for loss of earnings will go to the IVA, but that for pain and suffering is usually allowed to be kept. It will have to be itemised on the payout papers.

There is a large element of discretion used here and only your own IP can tell you.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here :

Lisa Thomas

User avatar
Industry Expert
Posts: 7261
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Thu Mar 15, 2018 10:01 am
If the IP allows you to keep the pain and suffering element you could consider using this to offer a full and final and finish your IVA early, depending on the figures...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”