I have 4 months remaining on my IVA totaling to £1360 and I am going to be made redundant and will be receiving an amount totaling £16000. I have contacted my IP (Debt Free Direct) and they state that I have to pay all into IVA other than 6 months which is annoying but then if I get a job i have to pay the remaining of the 6 months in. I said that I would like to just pay off the IVA but was told no, because I need to prove I can get back into employment? I have a few jobs in the pipeline but was wondering if you can assist with the possibility to keep any of my redundancy as I was hoping to get a functioning car to enable me to travel to the new job roles that are further away than my current employment and my car is on its last legs. Surely this is a justifiable reason?
Your IP will probably have to call a variation meeting to get creditor agreement to this suggestion, however if your IVA follows the IVA Protocol then your Supervisor has discretion to determine how much of the windfall to take.
At your stage of the IVA, and given your changed circumstances, your request would appear to be reasonable.
Please find my email address in my profile. If you could drop me an email I will look into your case further, and get back to you with an update and to answer any questions.
