Posted: Wed Aug 22, 2007 4:28 pm
Hope somebody can help me.
I've only been in my iva for 2months and already things have taken a sudden and very unexpected turn for the worse.
I will be made redundant by Nov 31st. After 6 yrs service my redundancy figure's have come in at just over 6K. Now the question i have is that i know i may have to give up some of this up to go towards my iva but can they still take anything away from me if i can't find a job straight away? Also seen as i can't make any payment alterations for the 1st 24 months what will happen if i can't find a job that pays as well as my current job?
It seems pointless them taking a chunk out of my redundancy to then at a later stage pass my debt back to my creditors because im not earning sufficiant wages to cover my payments.
Currently im paying £501pm to pay off £33k worth of debt and doubt very much i'll be able to sustain these payments when my current employment ends.
I've only been in my iva for 2months and already things have taken a sudden and very unexpected turn for the worse.
I will be made redundant by Nov 31st. After 6 yrs service my redundancy figure's have come in at just over 6K. Now the question i have is that i know i may have to give up some of this up to go towards my iva but can they still take anything away from me if i can't find a job straight away? Also seen as i can't make any payment alterations for the 1st 24 months what will happen if i can't find a job that pays as well as my current job?
It seems pointless them taking a chunk out of my redundancy to then at a later stage pass my debt back to my creditors because im not earning sufficiant wages to cover my payments.
Currently im paying £501pm to pay off £33k worth of debt and doubt very much i'll be able to sustain these payments when my current employment ends.