IVA Approved - Now a possibility of Redundancy

[kallis3]

Sorry to hear that SF. Hope Mel can help you with this.

[Sinking Fast]

Just a thought, but what happens if I take a job paying somewhat less than the role I have just been made redundant from?

Does our IP, Melanie have to call another creditors meeting after we resubmit a revised I&E?

Will our creditors likely reject this move based on the short time we have been in an IVA?

Many thanks.

[Sinking Fast]

Thanks Helen.

I do hope so. I have emailed Melanie, and am awaiting her reply so will let you know the outcome.

Thanks.

[Shining]

Sorry to read this Sinking Fast, you're with an excellent IP who will do everything she can in respect of the IVA and I wish you well in finding a new position very soon. x

[kallis3]

Hope you manage to find a job soon SF.

Fingers crossed.

[plasticdaft]

Fingers crossed you find a new job quickly. If your new salary has an impact on your ability to pay your IVA at your present p/£ then Mel will no doubt do what she can to get creditors to agree to a reduced return,but concentrate on finding a job and then worry about your IVA,at least your havent been made redundant without the IVA to stop all your creditors chasing after you!!!

Paul

[Sinking Fast]

Thats a fair point Plasticdaft.

Thanks all for your comments. It just seems that fate is conspiring against us. Im sure Mel will do all she can when it comes to assisting us through this treacherous period.

Thanks once again.

[plasticdaft]

Just imagine how much worse it would have been without the protection the IVA offers you.

Paul

[MelanieGiles]

I know this poster quite well and am absolutely sure that all efforts will be made to find alternative employment. He will be a credit to all new employers and I am sure he will not be out of work for too long.

[Sinking Fast]

Thanks all.

I have the best part of 3 months, which is my notice period, and then if needs be I can go for a payment break of up to 6 months. I have a number of irons in the fire; so not looking for the parachute just yet. It helps immensely when you can have access to your IP (Melanie), either on this forum or by way of email to answer any queries I may have.

Many thanks.

[Sinking Fast]

Well Im pleased to say that I have now secured a new position; slightly less than what I was earning, but none the less a job which I am very greatfull for.

I now have to liaise with Mel to look at the viability of our IVA, as there will be less DI per month.

Needless to say Melanie and the team have been very supportive, during my job search.

[kallis3]

Excellent news SF, so glad you have another job.

[Sinking Fast]

Many thanks Kallis.

A huge weight has now been lifted.

Excellent news SF, so glad you have another job.

[kallis3]

I'm sure it has.

Hopefully you can sort out lower IVA payments as well. I know Mel and her team will do their best for you.

[MelanieGiles]

Am sure we will get you back on track. It is in no one's interests to see the IVA fail.