hoping to enter into an iva soon, hubby had a serious accident whilst working which impacted on our earnings, he has not received a pay out yet, we thought it would not have to be written into the iva but have been told today its classed as a windfall, melanie could you advice on this. been told today our car repairs are going to be in excess of £1000 plus vat so really need to sort the car out.[:(] [:(]
It really depends on what the payout is for - if it is for a personal injury suffered then these are exempt from bankruptcy and therefore could be from the IVA as well, but if it is compensation for loss of earnings then this would be classed as a windfall.
Yes - you are due to have a chat with my co-director, Philip Gill, and then once the proposal is finalised myself! So do be sure to raise your concerns with Phil and I will brief him beforehand in any case.