www.iva.co.uk

...you get made out of work in an IVA and were unable to find a replacement job for say 6 months or even longer?
I work for royal mail and this year there have been no end of changes being implented in the work place, now with the credit crunch etc there are going to be more changes made for 2009 which I think will see hundreds of people lose there jobs. I have worked there for 5 years but I have the lowest senioraity as im the last person to start and will probably be the first to go.

Sorry for the rant but it scares the c**p out of me with 2 1/2 years left to go.

Cheers John

Firstly most IVA's will have scope to allow you to have a payment break in if this was to happen - it may mean an increase for a further year to make up the missed payments, but no creditors after two years would want to see an IVA fail.

I would alert your IP to the fact as soon as you get anything concrete from your employers that this is going to happen - that way they can advise you from the outset!

With a very volatile employment market at the moment, most of us realise there is no certainty of income prospects in the long term, and this is always accepted by your creditors. A payment break is always a possibility depending upon your circumstances.

luluj is correct and don't worry - most creditors will appreciate being informed early - I would not worry until and when you receive a redundancy notice - at that time contact your IP who should be able to offer most appropriate advice. Good luck.