I’m being made redundant at work. How much will go to my Iva?
Could i pay settlement fee?
I want to put redundancy money in a fund for the kids. Can I do this?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
In redundancy you are normally allowed to keep the equivalent of 6 months salary from redundancy compensation, the rest is payable into the IVA. You are expected to carry on making normal payments from the amount you get to keep.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Agree with foggy on this one, unless you gain a new job quickly the six months you are allowed to keep will need to go towards maintaining your monthly outgoings including your IVA, sadly putting any away for a rainy day will be difficult
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
