Hi Paul.
Sorry about the job situation, its happening to so many people at the moment.
It is imperative that you contact your Case Officer at Payplan and have a word with them. They should know your case and the situation.
If you are not happy with the response that you get, speak to a Team Leader or let me know and I will look into it for you.
I would just like to say i take my hat off to you for surviving an IVA for 5 years and i hope the creditors see the effort you have made and close the case
have been in touch with payplan,they are saying i might be able to finfish off the iva by making an offer of some of my redundacy payment,but it depends on the day whether the creditors will accept this.lWithout trying to skip my committmants what percentage of any monies would i have to give.Paul
Best to ask Payplan that question - but do make sure that you do not leave yourself if a worse financial position by using your redundancy money to pay off debts and then not having enough left to supplement your income until you find a new job.
MelanieGiles thankyou for the information you have given me,this forum and the people in it have helped me with a lot of my worries.I presume as i am working 3 months notice would it be best to wait now until my last payday in April before offering a settlement or to start the ball rolling now when i receive my redundancy paperwork next week.Paul
Hi Melanie,Further to my redunday i have found out i will be getting around 7k in April after my 90 days notice.if my iva ran until the end i would pay in around 5k.As previously stated i am worried about finding new job in present climate and i have angina as well.My ip is asking for my paperwoork regarding how much i will be getting.How do i broker a fair amount to offer to end iva.I MUST emphaise i not trying to avoid paying what i owe ,just very worriwed surviving with wife and 3 teenage kids if i cant get another job.Paul ps .once again thanks to everyone for their help on this forum
I personally think that you need to consider how you are going to keep the family expenditure going before worrying about the IVA - and £7,000 will not last very long when you have bills to pay. Your redundancy money is paid to you first and foremost as compensation for loss of office, so I personally would not be bargaining any of it away with an early settlement until you see what the work prospects are like out there.
Your IP ought to be able to give you some guidance on this, as they have a far better knowledge of your case.
am in a quandry as dont know what do do and what would happen if i didnt pay any monies in ,then used my redundacey on keeping bills going then run out of money in six months time ,would i be made bankrupt.Paul
Paul - we cannot really answer direct questions about your own particular case on the forum. You really need to discuss this with your own IP as soon as you can - the point I am making is that you need that redundancy money to put food on your family's table, rather than giving it to creditors until you find another job.
