i have been in an iva for almost five years,

[rhondda2]

i have been in an iva for almost five years,but it has been extened to seven years because i found the payment too much.Tomorrow i will possibly be made redundantand have told the iva people and they say my iva may fail.even after paying in allthe money.i am expecting some redundancy money about 3000,but will need this to live on for a while while trying to find another job.where do i stand please.Also will the dole refuse for me to give the money to the iva and state i have to use the money for living before i can claim any benefits.Paul

[MelanieGiles]

You are entitled to unemployment benefit, just the same as anyone else, and your redundancy money is needed to replace your income until you find alternative employment.

I would see if your IP is prepared to ask creditors if te IVA can be brought to an end now - on the basis that you may not be able to make any more payments. Five years is long enough, and I suspect that your creditors will be amenable to this suggestion.

[rhondda2]

hi thankyou for your reply ,but i get the feeling from my iva people that they are noy insterested in ending my iva,infact they are asking how much redundacy i would get.I dont know until tomorrow if i will definately be made redundant ,but am struggling as it is.Also my yearly review which is the 5th is now due.Do i have to pay in any redunacey i may get.Thanking you for your help i am having sleepless nights over this and dont know what to do.Paul

[MelanieGiles]

Do not hand over your redundancy money to them - it is essential that this be used to cover your household and general expenditure first.

Which firm are you with?

[David Mond]

I agree with Melanie and you will need the redundancy money to live on until you find a new job. Ask your IP to put forward another variation on the basis of your changed circumstances - 5 years has given your creditors a reasonable dividend and I am sure they will accept no more. Let us know how you get on.

[luluj]

Jobseekers allowance can be claimed immediately if you loose your job. Dependant on the level of contributions you have paid in the last two tax years you may be entitleed to either income based or contribution based JSA. Best thing to do is to make your claim on day one and let the processing section inform of your entitlement. With £3k redundancy it is unlikely the JCP will ask any questions.

[rhondda2]

i am with paypaln which set up the iva in march 2004 .Paul

[David Mond]

You should have no problem with PayPlan offering that variation - I am sure - speak to them asap.

[rhondda2]

thank you for all replies, i have never used a forum before so am very glad of the advice .Paul

[kallis3]

Glad we could be of assistance. I'd never been on a forum either before joining this one - I'm addicted now!

[rhondda2]

I will find out whats happens to my job tomorrow first and then take it from there.will let you know what happens.Paul

[kallis3]

Fingers crossed that you keep your job Paul.

[rhondda2]

found out today i have lost my job.have been 3 months notice.

[Skippy]

Sorry to hear that Paul xxx

[kallis3]

Sorry that you lost your job Paul. I hope you manage to find another one quickly.