Does a personal Injury payout have to be paid into IVA?

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clare146

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Post by clare146 » Sun Jul 14, 2019 7:25 am
I have been in an iva with creditfix since Dec 2017 for about 8.5k. I have recently had an rta which wrote off my car. I have had a personal injury claim payout off for pain and suffering (no loss of earnings) will I have to pay the personal injury claim money to creditfix? The windfall section is a bit vague. Most that I am reading are saying that if it is pain and suffering then I will not have to pay it to my iva. I'm not trying to not pay for my debt, but it's a very vague subject

Allywally

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Post by Allywally » Sun Jul 14, 2019 8:03 am
Hi

I also had personal injury claim during IVA and didn't have to pay any in, like you there were no loss of earnings which I believe might make a difference. Good luck.

kallis3

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Post by kallis3 » Sun Jul 14, 2019 8:08 am
If it's for pain and suffering you may be ok. If it's under £500 you should be able to keep it but speak to CF tomorrow.
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.
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Foggy

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Post by Foggy » Sun Jul 14, 2019 8:11 am
There is no specific instruction that I am aware of regarding insurance compensation payouts in IVA's. However, when in doubt, most IPs will fall back on the way these things are treated in BR.
Generally, in BR, compensation for pain and suffering is allowed to be retained and most IP's translate that to cover IVA's as well.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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