I may be may be offered voluntary redundancy.

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colin.r

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Post by colin.r » Wed Aug 08, 2007 3:44 pm
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Hi, Im 2 years into an IVA and there is a possibility I may be may be offered voluntary redundancy.

What will the implications of this be to my IVA.

Also, I am in the process of reclaiming my bank charges back. I do not see these as a windfall, it is money taklen from my by the banks, would I have to inform my supervisors of any monies I receive.

Many thanks
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Adam Davies

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Post by Adam Davies » Wed Aug 08, 2007 4:11 pm
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Hi Colin
Your redundancy can be used to fund your living expenses and will not be classed as a windfall whilst you seek work.If you find a new job you will the have to discuss the situation with your IP.
You may be able to offer a full and final lump sum with it and conclude your IVA.
Bank charges refunded will be seen as a windfall I,m afraid,but you can discuss that with your IP.
Have a look at an article that I have written "Windfall payments during an IVA" located on the articles page.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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