Redundancy pay question.

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aragorn

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Post by aragorn » Tue Mar 04, 2008 10:42 pm
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Hi,
Thanks for all your advice so far it has really helped me to weigh up my options ,i spoke to my IvA companies customer care team today.

They did appear very hopeful about the reduced earnings in my husband's new job he made redundant 2 weeks ago and will earn a lot less now but said we can request a variation.

We will request a variation but if it is declined its plan B. The question i want to ask is:

If we use his redundancy payment to secure rented accomodation.( six months deposit.) and then go bankrupt- will we get into trouble with the OR for spending that money. I know for a fact that we will not get council housing.


Thankyou.
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MelanieGiles

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Post by MelanieGiles » Tue Mar 04, 2008 10:44 pm
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Not at all. The OR knows full well the difficulties in trying to find rented accomodation, and the money is yours until you go bankrupt to use sensibly.

Good luck and let us know how you get on.
Regards, Melanie Giles, Insolvency Practitioner
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