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

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1
User avatar
Posts: 1
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
User avatar
Forum Expert
Posts: 27956
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.
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Bing [Bot] and 25 guests