It's been a while since I last posted!
I wanted to ask, my fiance' is being made redundant next month, and we have worked out tonight that he will be receiving £8475. We are just about to start our 4th Year of our IVA (of 6 as we had to change payments after job problems at the end of year 2).
So we worked out that if we stayed on the IVA as we are now, we pay £250 a month, so would be paying back 9,000 over the course of the next 3 years.
I see lots of people are doing the full and final settlements via 3rd party's, would we not stand in a position to do a full and final with redundancy pay of the 8,475? Would this money just be taken by our IVA company, and then IVA payments would continue as normal?
Our original debt was 26,000. We paid 350 for the first 2 years, and 250 for the last year totalling 11,400 so far, and would have for the next 3.
Thanks for any help in advance!
It may be possible to negotiate an early settlement with creditors using this money, but how will you manage without his salary in the meantime?
Who is onlineUsers browsing this forum: No registered users and 1 guest
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location