What are my options?

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terri.j

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Post by terri.j » Mon Mar 03, 2008 9:55 pm
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I took out an IVA last year and have been making regular payments on time. In December 07 I was made unemployed. I notified my IVA people and they have given me 6 mnoths grace to find alternative work. However, in October 2007 I started a part time study course (funded by my previous employer) and I wish to change this to full time. I am concerned that my IVA won't allow this to happen but I am having difficulty securing suitable work to cover supporting my un, paying my IVaand other household bills. By going full time I will be eligible for financial support. What are my options?
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MelanieGiles

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Post by MelanieGiles » Mon Mar 03, 2008 10:24 pm
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Hi terri and welcome to the forum

If you are going to study on a full time basis, is it likely that the financial support you will be getting will be equal to your lost salary? I doubt it, and the future of your IVA must therefore be in jeopardy.

You will need to work your costings out, and then have a frank and open discussion with your IP with regard to options. How long is the course going to last for, and will it improve your employment prospects in the long run?
Regards, Melanie Giles, Insolvency Practitioner
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terri.j

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Post by terri.j » Tue Mar 04, 2008 2:15 pm
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Thank you for getting back to me.

The degree will certainly help secure a career in the future (area of previous work but restrictions due to lack of degree) and it'll last another two years full time. My first year end roughly the second week of may.

I will speak to my IP and see what they say but thank you again.
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