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I am being made redundant soon and am only 2 months into my IVA. I realise that my redundancy money can be used to pay my bills until I get a new job. What happens if I get a job before my redundancy money is used up. Will I have to pay all of what is left into my IVA?

As well as funding my monthly living expenses, I will need to use my redundancy money to buy new clothes as I have been working locally for 13 years and wear fairly basic, casual clothes. To get a new job with the same money, I have no alternative but to travel into London and will have to get some decent clothes and shoes. I'm not talking expensive, just smart. Will this be allowed?

Any advice would be greatly appreciated.

Yes - the surplus monies will be a windfall in your IVA.

I am sure that your supervisor ought to allow you a reasonable clothing allowance, but they are the ones you ought to be asking as IP decisions will vary from firm to firm.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
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