i have just been sacked,what are my options?

[kenny]

i entered into an iva in march 07,at the time i had fewer expenses than i do now,also i have just been sacked,what are my options???????????????????

[MelanieGiles]

Hi kenny and welcome to the forum

Sorry to hear your news. You really need to discuss the implications of this with your IP, but it may be possible to take a short payment holiday whilst you look for alternative employment. If you were not affording the payments in any case, it may be time to consider whether bankruptcy proceedings represent a more suitable solution for you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Lisa2009]

Firstly you should speak with your IP who may be able to give you a payment break while you find work.
Alternatively, if you do not have your own home or any assets then Bankruptcy could be an option.
I think though, firstly see what your IP suggests.

[Lisa2009]

Oops sorry Melanie your post wasn't there while i was typing.

mrs skint

[debbiw]

Hi Kenny, Sorry to hear that you have been sacked. I'm sure you will be able to take a payment break giving you chance to get a job and back on your feet. Speak to your IP.