Hi. I am going to be made redundant as I am not able to travel to my new place of work. My iva finishes in marich 2017 but I am likely to get a redundancy package in the same month. It is not possible for me to get another job and asee this will be the final payment to the iva would the creditors allow me to keep my redundancy payment
Your IVA won't be complete until you get that all important piece of paper. You may find that some of your redundancy will have to be paid across.
You will always owe the full amount to your creditors (plus fees and possible statutory interest) until you have that completion letter.
You can speak to your IP to see what, if anything you are allowed to keep.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Although your contributions might be due to finish in March 2017 some IP firms can take up to 6 months to close a case so I suspect the redundancy will have to be paid over unless you can convince the IP otherwise.
Michael's post is a very good suggestion. If you get it closed before March you will be free to do what you want with the redundancy.
