Redundancy and f&f

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MabelW

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Post by MabelW » Sun Jan 31, 2021 9:08 am
Hi,

unfortunately I found out on Friday I am being made redundant. I have only been with the company a year so do not qualify for any redundancy payment. I am in the events industry so to try and get a new job in the current times is going to be almost impossible especially with all of those other poor people loosing their jobs.

A family member has offered to give me £1,500 to pay off my IVA but I have about £3,400 left to pay.

Do you think that under the current circumstances and that I am unlikely to find a new job any time soon, meaning my IVA will fail that my creditors would accept this kind of offer?

Thank you x

Foggy

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Post by Foggy » Sun Jan 31, 2021 10:38 am
It depends on the hit they are already taking ( what is your estimated dividend ? ) and how long you have been in the IVA so far.

My IVA ended early due to a change in circumstances making it unaffordable ... I was about half way through, but had already paid about 31 pence in the pound. Creditors agreed to call it quits at that. I would imagine that your IP would possibly agree to a 6 month break to see how things go first on the job front.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Sun Jan 31, 2021 12:50 pm
Which company are you with? Hopefully one that will let you take a long payment break. I hope you find a job soon.
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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