Employment lost through employer's discovery of IVA , affordability diminished.

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stephen715
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by stephen715 » Wed May 09, 2018 4:46 pm
Earnings are now drastically diminished through losing employment due to employer discovering IVA , Term extended 12 months , but negative surplus income for affordability. Would you recommend applying for a Variation to concluded on basis of payments already made ?
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Foggy
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by Foggy » Wed May 09, 2018 5:05 pm
stephen715 wrote:
Earnings are now drastically diminished through losing employment due to employer discovering IVA , Term extended 12 months , but negative surplus income for affordability. Would you recommend applying for a Variation to concluded on basis of payments already made ?


If you cannot make the agreed level or number of payments you have little option but to do this or to ask for a payment break while you seek new employment.
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kallis3
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by kallis3 » Wed May 09, 2018 5:11 pm
Agree with Foggy. Why was your IVA a problem with your employer?
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Lisa Thomas
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by Lisa Thomas » Thu May 10, 2018 8:27 am
Was your dismissal fair? Did they have rights to dismiss you within your contract due to the IVA?
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stephen715
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by stephen715 » Thu May 10, 2018 1:14 pm
Lisa Thomas wrote:
Was your dismissal fair? Did they have rights to dismiss you within your contract due to the IVA?

I was engaged as a "consultant" on a Zero hours contract. When IVA discovered I was told no more work could be offered to me ( last January ) . The IP is currently conducting the 6th anniversary I & E review, and report to creditors ( so far not concluded ) . However due to now living on state pension and smaller private pension , thus causing drastic reduction in household income , and no surplus for affordability. Iva was for 64 months ( to August '17 ) plus further 6 months (to February '18 ) for final administration . When providing latest I & E , I requested a Variation based on payments made over last 6 years , and therefore conclusion of IVA. No response from IP as yet. What should I do ?
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kallis3
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by kallis3 » Thu May 10, 2018 1:39 pm
Keep pushing if your IVA has finished, which it sounds as though it has.
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Lisa Thomas
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by Lisa Thomas » Fri May 11, 2018 8:20 am
Chase the IP up they have either 21 or 28 days to put the offer to your creditors.
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