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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.
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.
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.
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.