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Posted: Sun Jul 13, 2008 7:58 am
by trevor.t
if i have a iva and the company i work for goes into liquidation and i am made redundent and not paid anything,what would happen about my iva as i would have no earnings to pay them?
Posted: Sun Jul 13, 2008 8:02 am
by luluj
You need to speak with your IP as soon as possible - they may be able to reduce or freeze your payments for a couple of months to give you chance to locate new employment - otherwise with no income it is going to be difficult for your IVA to continue and you may be forced down the route of DMP or Bankruptcy.
Posted: Sun Jul 13, 2008 9:56 am
by kallis3
I agree with lulu, if you have no income, then breathing space for a couple of months may help you find employment, otherwise your IVA will fail and you will have to look at the alternatives.
Welcome to the forum by the way!
Posted: Sun Jul 13, 2008 10:44 am
by Dominic
yes contact your IP as soon as you can.