www.iva.co.uk

Yesterday i recieved notice that our creditors meeting will be held 25th of this month. However today, completly un-expected a meeting was held at work and with immediate effect [fromtoday]made redundant. As i have only been there a few months i am to recieve nothing more than 1 weeks pay in lieu of notice. Apparantly this is due to clients not re-newing contracts which is why they have to let people go.

This is a big blow, we were offering 70/£ but i dont know what im going to do now. Even if i found a job 2mora it wouldnt pay anything like im on now.

I thought we were getting sorted-how wrong could i be [V]

Oh no. I'm so sorry, that's awful. Talk to your IP straight away so they can delay your meeting, they will advise you of what happens now. I'm sure the experts will be along to help you too.

agree, best that you withdraw from the IVA rather than allowing it to continue and being unable to make the payments which may cause the IVA to fail.

Better to see if you can get a job, even on a lower salary then you can consider an IVA on your revised cicumstances. Given you are offering 70p/£ even with a reduced salary you might still might be able to offer a reasonable IVA.

Good luck with the job hunting.

Oh no that is awful. I hope you get another job soon. Don't worry I am sure things will work out.

o no that really is awful what a blow for you, speak to your IP and hopefully they will be able to postpone for a bit and you will be able to find other employment in the meantime, good luck i will keep my fingers crossed for you, easier said then done but try not to panic too much.

rb

OH and i know what your going through, he lost his job with immediate effect on the 23 june, no redundancy!. first thing that went through our head was the IVA, second thing that went through our head was the fact that he would NEVER get a job matching that salary. we contacted our provider and gave them details and they gave us a payment break, for yourself they will hang on until you find alternative employment and re proposed. most important is finding employment and looking after yourself, keep in contact with the company who is proposing your IVA and they will help u through it.

That's terrible news Tryingtogethelp - just when you thought your troubles were over.

I do hope you manage to get another job soon.

Fingers crossed for you.

Thanks all.

Have tried to speak to my IP but cant get through. Have emailed but doubt i will get a response until Monday at the earliest now.

If Melanie is reading what would you suggest to your clients if they were in this situation?

Regards

Steve

Oh no ttgh![:(] Your IVA is booked for the same day as mine. Try to think positive, I know it's hard, but you've come this far and something is bound to turn up. Thinking of you. Kazzy x

There is no way in can go ahead though. If it gets approved and i get a lower paid job, assuming i get one straight away, then the IVA will be doomed to fail before its even started.

Regards

Steve

Hi Steve

It is absolutely right that you should withdraw your application for an IVA right now. The most important thing is getting into the job market and finding suitable employment. Your creditors can and will wait until your situation is clearer, and perhaps a revised IVA could work or maybe bankruptcy appears to be a better option.

A temporary DMP with some token payments to keep the wolves from the door might provide some temporary relief over the next few weeks, and your IP should write to your creditors to explain the situation.

Thanks Melanie.

I will speak to my IP first thing Monday. Its just a horrible thought withdrawing when we were so close to getting our lives back on track, but i understand it is the sensible, well only option at the moment

Steve

Sorry to hear that things aren't working out as you hoped. Good luck with the job hunting x

It would be pointless to carry on into an iva not knowing where the money was coming from.

Fingers crossed a suitable job comes up soon.