I am about to be made redundant

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alitaylor2010

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Post by alitaylor2010 » Mon Sep 06, 2010 1:54 pm
I am about to be made redundant, and would like to know what my options are with my IVA as I will be receiving a redundancy package? Any information would be gratefully received..
 
 

rayb

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Post by rayb » Mon Sep 06, 2010 2:01 pm
Hi,

What will usually happen is you will be allowed to live on the redundancy amount for around 6 months till you find another job and then whatever is remaining will need to be paid in to your IVA.

Best best is to contact your IP and go from there.

Good luck and keep us posted
 
 

liamjames

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Post by liamjames » Mon Sep 06, 2010 3:03 pm
Hi Alitaylor and welcome!

It entirely depends on your IP's interpretation of your situation. As rayb says, it would be reasonable to treat the redundancy package as a supplement to your normal income, because that's what it's designed for.

It's a very sensitive time financially, so it's very important that you stay in close discussions with your IP at all times.

Good luck!
Take care,

Liam James
Varden Nuttall
http://www.vardennuttall.co.uk

Read our reviews here: http://www.iva.com/iva_companies/Varden_Nuttall.asp
 
 

MRBLUESKY

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Post by MRBLUESKY » Mon Sep 06, 2010 8:21 pm
high alitaylor if the redundancy package was a large amount it would be worth consulting your ip about a full and final offer,if not then like rayb advised you would have to live for a 6 month period on the funds before handing over any amount assuming you started a new job.
 
 

Shining

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Post by Shining » Mon Sep 06, 2010 9:32 pm
Hi welcome to the forum and sorry to hear of your redundancy. Here's hoping you can source a new position without much if any delay. Put your IP in the picture and take some case specific advice. All the best. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

alitaylor2010

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Post by alitaylor2010 » Mon Sep 06, 2010 10:24 pm
Thank you for all the replies! Very much appreciated! I have contacted my IP to discuss my situation and she has given me a lot of advice too.

Best Wishes.

A
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