redundancy

[cactuslove]

My husband is due redundancy and is currently paying an iva. He has only 8000app to pay on the agreed iva amount. If he made an offer to pay this as a full and final payment would that be a problem if accepted or would he be chased for payment of the original debts.

[Shining]

Hi and welcome to the forum.

Your hubby only has £8000 to pay on his IVA? he could offer this as a full and final payment hopefully this being accepted and the IVA concluding.

Hang around for a professional opinion x

[MelanieGiles]

How much is he likely to receive from his redundancy? Redundancy money is still deemed to be a windfall in the IVA, and therefore creditors are entitled to the payment in any case - however your husband ought to be allowed to retain a sensible sum of money to cover his lost salary for up to six months until he finds another job.

[ricbro]

I was out of work for 6 months from July 2012 to January 2013 due to not being TUPE transferred when our company was taken over, I have recently been offered a sum of money to cover my redundancy, I am working although earning £12000 less than I was, I am currently awaiting a decision on suspension of payments, if I accept the offer will I have to pay it all over or will I get six months worth of wages out of it (not that there will be that much anyway)?