Can I make payment to my IVA with my benefit

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john1068

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Post by john1068 » Sat Sep 11, 2010 6:11 pm
Dears,
i have been making repayment to my IVA which set up successfully in June 2010, but i was told i would be made redundancy at the end of September, what should i do, i don't want to petition for bankruptcy, i think in the next few months, i am not easy to find a job, can i apply job-seekers allowance and made repayment to IVA with my benefit, until i find a job.
 
 

Pandy

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Post by Pandy » Sat Sep 11, 2010 6:19 pm
Hi john10698,
Welcome to the forum, sorry to hear about your redundancy, JSA is not a lot of money I doubt you would be able to afford to live and pay your IVA from it, If you dont mind me asking how much is your monthly IVA payment.
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kallis3

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Post by kallis3 » Sat Sep 11, 2010 6:27 pm
If you have any redundancy pay due you will be able to use this for a while to fund your normal monthly bills.

I doubt if you would get enough JSA to fund your living expenses and your IVA payments.

You need to speak to your IP as soon as possible.

Is there any reason you don't want to go bankrupt if you can't get another job?
Sharing from experiences of dealing with debt
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MelanieGiles

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Post by MelanieGiles » Sun Sep 12, 2010 9:57 pm
What provisions were there in your IVA for redundancy. If your IP presented your IVA in accordance with the terms of the IVA Protocol, then you ought to have this ably covered within the terms.
Regards, Melanie Giles, Insolvency Practitioner
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