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JimLawyer
JimLawyer, Solicitor
Category: Law
Satisfied Customers: 13918
Experience:  Senior Associate Solicitor
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I was in a I.V.A plan which has failed due to me being

Customer Question

Hi I was in a I.V.A plan which has failed due to me being unable to work through a serious injury. I'm currently going through a personal injury claim. Third party has admitted liability, I need the money to adapt my house to suit my disability. Will the creditors take my personal injury claim money?
JA: Can you tell me where this is? And do you have copies of the medical records?
Customer: wales, uk. dont have records on me
JA: Has anything been filed? If so, what?
Customer: yes a personal injury claim, pain, travel expensive, Medican expensive, pain and suffering, loss of earnings, future loss of earning
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: that's it.
Submitted: 17 days ago.
Category: Law
Expert:  JimLawyer replied 17 days ago.

Hello, this is Jim and welcome to JustAnswer. I will be the lawyer working with you today.
Sorry to hear of the issue. I will set out my written answer shortly.

Expert:  JimLawyer replied 17 days ago.

The IVA will have a "windfall clause" which will confirm what happens if you come in to money.

I presume you are represented by a personal injury law firm. If so, they should already be aware of the fact you have an IVA. If not then you must tell them - the award for the injury itself is not affected. So the award for PSLA (pain, suffering and loss of amenity) is yours and yours alone. A Personal Injury Trust can be set up so the the damages are ring-fenced if you are in receipt of means tested benefits but if you have an IVA, it would only be the funds which are in excess of what you owe under the IVA.
If your claim includes loss of earnings then the compensation for loss of earnings would be taken by the practitioner who set up the IVA, to repay the creditors. You mention loss of earnings and future loss of earnings - you would need to declare the settlement to the practitioner. It would depend how much is left over - what is left over would be yours.

Expert:  JimLawyer replied 17 days ago.

I hope this helps and answers the question - my goal is to ensure you are happy with the answer and have the information you need. If you have any follow up questions then please let me know. I will reply as soon as I can to help with any further queries.

Many thanks,
Jim

Expert:  JimLawyer replied 17 days ago.

Please let me know if the answer helped or if you need me to cover anything else?. I am happy to clarify the answer or if you have any follow up questions. If so, I’d be grateful if you would let me know. I am free most days, including weekends, so feel free to ask me anything you are unsure of.

Best wishes,

Jim