What would happen if I had an IVA and at a later date I received compensation from an industrial injury claim made a couple of years ago. Is this treated as a windfall & would I have to declare any compensation I might receive?
Pretty sure its classed as a windfall, less any fees for treatment you are still having to potentially take.
You are obliged to declare it usually within a couple of weeks of receiving it. The chances are it will be a cheque payment that would need paying into your bank account ... which would obviously show up in a review of bank statements by your IP.
I think it depends on what the compensation is for.
One of the professionals will be along later.
Not all IP's require bank statements - mine doesn't.
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You should make your IP aware of the claim when your propsals are presented. Is there any reason why you would not want this money to be paid to your creditors?
