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Posted: Mon Jun 23, 2014 9:53 pm
by Gillhegills he
Hi we are at first review stage and my husband has been diagnosed with an illness which means he will never work again. He may qualify for early retirement on the grounds of ill health but I wondered how much of the lump sum would be taken by IVA. I understand in a redundancy situation it is anything in excess of 6 months pay but he will never work again so is it differnt in this case?
Posted: Tue Jun 24, 2014 8:34 am
by Adam Davies
Hi
I think given your circumstances a lump sum payment to conclude the IVA could work
Have a chat with your Insolvency Practitioner and explain the situation
Good Luck
Regards
Posted: Tue Jun 24, 2014 9:42 am
by welshwiz
Sorry to hear your bad news hope everything works out for you good luck
Posted: Tue Jun 24, 2014 11:42 am
by gillhe
Hi Andy
Thanks for reply. I'm just wondering if they would expect to be paid at 100p in the £ or would let us make offer for full and final settlement as obviously we need as much of the lump sum as possible to live on?
Posted: Tue Jun 24, 2014 12:04 pm
by Michael Peoples
Creditors are normally sympathetic to settlemenst as a result of death or illness. Discuss this with your IP and they should be able to advise better.
Posted: Wed Jun 25, 2014 1:36 am
by wiggle1
I hope it all works out for you.