IVA Approved - Now a possibility of Redundancy

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Sinking Fast

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Post by Sinking Fast » Thu Jul 08, 2010 3:55 pm
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Thanks Michael.

I am hoping the result is a positive one.

Yes Marce it is a worry, but something that is out of my control.

Not sure why my post has appeared 3 times!!
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Goosed

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Post by Goosed » Thu Jul 08, 2010 4:29 pm
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Blimey, sorry Sinking Fast.Hope things turn out ok for you.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".

Eric Cantona
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Sinking Fast

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Post by Sinking Fast » Thu Jul 08, 2010 4:50 pm
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Hi Goosed,

Yes things have moved quickly from initial euphoria of having our IVA accepted, to be told that job losses are very real.
I just hope next week brings better news.
Goosed wrote:

Blimey, sorry Sinking Fast.Hope things turn out ok for you.
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Pandy

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Post by Pandy » Thu Jul 08, 2010 5:05 pm
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Fingers crossed you have some better news next week
If life is what you make it, I must have been in a strange mood when I made mine
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Sinking Fast

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Post by Sinking Fast » Mon Jul 12, 2010 3:58 pm
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Well we have our individual meetings this coming Wednesday morning. I should then know if I am to be made redundant[:(]

If I am made redundant what will that mean in respect of our IVA?

Having made just 1 IVA payment, will that mean our IVA is doomed, or can we look at a payment break?

Having thought we had nailed our debt problem, and now finding out redundancy is very real, things have never been so bad.

Thanks.
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Shining

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Post by Shining » Mon Jul 12, 2010 4:18 pm
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Hi Sinking Fast, I hope your meeting goes well for you and redundancy is not going to happen.

If it does happen, contact your IP immediately and hopefully all options will be discussed.

All the best x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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heavydebt

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Post by heavydebt » Mon Jul 12, 2010 5:45 pm
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Hi SinkingFast and Good Luck for Wednesday. I know people take payment holidays soemtimes in this situation - maybe that could be an option?

xx
The future's bright, the future's debt free. In 72 months to be exact!
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kallis3

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Post by kallis3 » Mon Jul 12, 2010 5:57 pm
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I would wait.

Hopefully you won't be made redundant.
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
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MelanieGiles

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Post by MelanieGiles » Mon Jul 12, 2010 9:44 pm
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If you read your IVA proposal, there is a section in there covering redundancy, and you also have the benefit of a payment break for up to six months, so I wouldn't worry unecessarily at this stage.
Regards, Melanie Giles, Insolvency Practitioner
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Sinking Fast

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Post by Sinking Fast » Mon Jul 12, 2010 9:56 pm
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Thanks Melanie.
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Sinking Fast

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Post by Sinking Fast » Wed Jul 14, 2010 3:34 pm
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Well its not good news. My position has been made redundant today, the only saving grace is my 12 week notice period which buys me some time I suppose.

I have emailed Melanie for her suggestions, and now start the task of job hunting.
I just hope our IVA is not doomed, and I can secure another position going forward.

Many thanks.
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missy80

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Post by missy80 » Wed Jul 14, 2010 3:55 pm
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Oh no, what bad news! I'm really sorry to hear that

Best of luck in finding something new. What kind of work do you do?
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Goosed

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Post by Goosed » Wed Jul 14, 2010 3:57 pm
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Oh no, Sinking fast...I`m so sorry for you. I hope you find something soon. I can`t imagine how you must feel.
As you say, at least you`ve got three months notice, so at least a little time to try and sort something out.
Will you get a redundancy package that could possibly be put forward as a full and final taking into account your situation???
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".

Eric Cantona
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Sinking Fast

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Post by Sinking Fast » Wed Jul 14, 2010 4:02 pm
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Hi Goosed.

I have been in position for under 2 years, so no I am not due any redundancy. What I do get is 3 months pay without any deductions, which will give me some more time to hopefully bag another job.
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Goosed

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Post by Goosed » Wed Jul 14, 2010 4:17 pm
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Sinking Fast wrote:

Hi Goosed.

I have been in position for under 2 years, so no I am not due any redundancy. What I do get is 3 months pay without any deductions, which will give me some more time to hopefully bag another job.
Oh hell...I`m sure Melanie will have some advice and be able to come up with some short term solution that will at least give you some respite whilst you try and sort a job out...I just don`t know what to say, just when things seemed to be looking up.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".

Eric Cantona
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