redundancy

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patb

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Post by patb » Wed Jul 23, 2008 10:45 am
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Some on an IVA is made redundant - can the payments be postponed until another job is found?
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MelanieGiles

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Post by MelanieGiles » Wed Jul 23, 2008 10:48 am
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Hi patb and welcome to the forum

Yes the payments can be postponed - initially at the discretion of the IP for up to three months, and if the timescale is likely to be longer then only with the agreement of creditors. If there is a redundancy payment paid as compensation for loss of office, your IP will no doubt expect you to maintain payments to the IVA until that money has been absorbed.
Regards, Melanie Giles, Insolvency Practitioner
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