Could I use £9000 to settle IVA

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jon855
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by jon855 » Fri Dec 14, 2018 9:22 am
I am currently looking at entering into an IVA, and it would start within the next 2 months. I am currently employed full time and have been made aware that in a year my work would offer me £9000 after tax to remain with the company for another 3 years. Some of this would be an early payout from my pension. I am 27 so no where near an expected payout from it this is just a one time deal. Would my IVA swallow all of this? If not could I use this £9000 to settle my IVA if it was a suitable amount.
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kallis3
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by kallis3 » Fri Dec 14, 2018 9:48 am
Hi,

How much are your debts?
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Foggy
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by Foggy » Fri Dec 14, 2018 10:18 am
It is likely that your IVA will take this payment, or at least around half of it, in addition to your usual monthly payments.
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Lisa Thomas
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by Lisa Thomas » Fri Dec 14, 2018 11:06 am
Maybe you could use it to reach a direct settlement with your creditors and avoid an IVA altogether. Depends on your circumstances and level of debt.
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