If i am made redundant, will i have to carry on paying as normal?

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joseph
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by joseph » Fri Apr 20, 2018 8:54 pm
I'm in a Iva for 2 months so far I'm going to be made redundant in the next couple of years I told my iva people this might happen I know the money I get from my redundancy some of it goes into my iva will I still have to carry on paying as normal as if I haven't put any money in or will that come of my debt
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Foggy
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by Foggy » Fri Apr 20, 2018 9:01 pm
It will go to your creditors to add to the amount of debt you repay. You are expected to continue normal payments out of the 6 months salary you are allowed to keep from the redundancy compensation. If you do not get new employment within the 6 monhts you can ask for a payment break, which will be added back on at the end of the term.
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