I'm in the final 8 months of my Iva,I have been on a 3 month payment break due to ill health and only getting ssp.My employer now wants to give me 4 weeks notice in lieu of payment and 4 weeks redundancy as part of a conversation without prejudice.If I accept I am worried about being made bankrupt I believe I can pay £50 pcm instead of £188.Im not sure what to do or say to my Iva provider?
Normally in redundancy you are allowed to keep 6 months salary equivalent before paying anything over. I would have a word with your IP and discuss making a full and final offer based on payments made to date as you are so close to the end.
Do you own your home or rent ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You should consider legal advice regarding your employment situation and the CAB would be a good start. As to the IVA I agree with Foggy that closure now seems the best way forward based on payments made to date.