I have an IVA but had car accident which wasn’t my fault and will be getting compensation for pain and suffering only. I am not claiming loss of earnings etc it is pain only. Is it right I can keep that as it is exempt and it is not a windfall?
Usually compensation for pain and suffering ( and specifically described as such) is allowed to be kept --- but this is at the discretion of the IP as these payments are not specifically captured in the IVA terms, so most IP's apply the policies as they apply in bankruptcy. But -- at the end of the day it is down to 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 http://foggy.blogs.iva.co.uk