Hi I’m currently with creditfix. I am being made redundant in September. I have 15 months left on my Iva @ 130 a month. I’ve been told I can use my redundancy as a full and final payment and the minimum I can offer is £2225. I should receive around 4000 plus my notice period in lieu which is about 1500. I receive this on my last pay in November. How much is a good offer? I’m currently on furlough and have been looking for another job. Theres a job I can get which will be more money than I was on and I can start in September but am worried this could affect my ff payment offer and my annual review is in October. If they accept my offer but then realise I have a new job during my annual review will this affect their decision or could it still be accepted. I don’t want to lose all my redundancy and then pay a higher monthly payment because it means I will be paying a lot more than my original debt which was 12000. Any advice?
The figure CF have given you appears to be the remaining payments plus a variation fee. To be blunt, if this is accepted you might have had a lucky escape as they do not seem to be interested in pursuing the usual redundancy procedure, which would see you losing the most of your compensation (because you are going right into new employment you would not even get to keep the 6 months salary). I might be inclined not to mention new employment ( after all -- it might not happen) and get the IVA closed on the £2225 full and final offer.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for the reply,
What if they see I have a new job on my annual review because they get access to my online banking? Will it make them not accept the offer?
If they see it, they could hold out for a better offer, based on a higher monthly payment, as well as take the redundancy compensation anyway --- but, as you would then not have a lump sum , you would have to carry on paying monthly for the next year or so. It is a possibility --- you are throwing the dice and hoping that they land in your favour.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
