I am due to make my last IVA payment in May. If I am subject to compulsory redundancy before then, will I end up paying over total debt + Fees (ie most of my redundancy) or do you think there will be room for negotiation given that I am so close to the end? (I am with Freeman Jones)
I would hope there is room for negotiation but there are mixed views about fj around his they react when extra money becomes available to the iva.
You should be prepared for the worse but hope for the best.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
If you have concerns about this perhaps you should try and get the IVA settled quickly with a full and final. Then if the worst happens your redundancy will be protected and not seized under the terms of the IVA.
It may not be easy to source the money but it may be the best idea.
We, as much as you, want to ensure that you're IVA concludes successfully and without any fuss.
Please pop me an email, steve.hewitt@freemanjones.com, and I'll ask the team to call you to discuss all the options available to you. I look forward to hearing from you.
Regards
Steven Hewitt - a member of the team at Freeman Jones
