Hi I am currently in the final of an IVA and was recently made redundant. I didn't even consider the fact that my redundancy payout would be taken as a windfall payment and now my IVA company have asked for approximately half of my redundancy pay to be given to them to pay of my creditors. I just said OK but I am not able to pay them this as I lent some to my daughters one for a wedding and one as a deposit for her mortgage. I have spoken to both of them and they are going to try and raise the money to pay the money back but no idea how. What will happen if I can't get the money I should talk to my IVA company but am really worried about doing this. Can you advise me please.
You need to be open with your Supervisor as Andy and Foggy state. Hopefully they will use their discretion to allow you to repay the monies over a period of time, extending your IVA if necessary. Good luck.
