www.iva.co.uk

my job security is looking more shakey due to changes in this sector.Today i was sent an estimate of benefits if i applied for voluntary redundancy,whats concerning is i never requested them! so the writing may be on the wall.Eight months in to an IVA owe around £62.000.
My job may go if not this year it wont last in the next 2 years due to changes in the job sector.
I will hang on but if i get made redundant this year how much would the IVA take out of the redundancy[?]?
Also a family member has said he was prepared to lend us the money for a F&F however the IP said my circumstances had to be bad like illness or redundancy otherwise the creditors would just take that money and keep on the IVA.So could i apply for a F&F if i took voluntary redundancy? or does my employer have to make me redundant.
?
I would welcome advice , I will be at work from 13.00 until Sunday afternoon so i will not be able to comment on any advice so thank you for your trouble
Regards to you all[:(]

Hi
I don't agree with your IP stating that your circumstances have to change for a Full and Final to be agreed.If you can return the original dividend in a lump sum early then why would your creditors turn this away ? I suspect that this has not come from the actual IP but a case worker because in any full and final from a third party the loan is only made under the agreement that it is used to conclude the IVA,otherwise the offer is withdrawn,so no danger of your IVA gobbling up the lump sum and asking you to make ongoing payments.
Redundancy monies should be used to live off until you find a new job,any remaining funds could be deemed as a windfall and paid into your IVA
Regards

Neither do I agree with your IP. If the money for the full and final settlement is coming from a family member, and you are making a reasonable offer of settlement in line with the original dividend, I think that creditors will snap your hand off - especially in a scenario of potential redundancy.

Speak to your IP personally to see what he/she says.

Thank you so much for your helpful responses.We will think it over quickly before events overtake us

Again Thank You
[:)]