Stressing . Made redundant in 5th year of IVA.

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by carol724 » Sat Jun 03, 2017 3:30 pm
Hi. Please help me. Stressing big time. Ok me and my husband have been in a IVA for 5 years now. It is due to end in Dec this year. My problem is I have just been made redundant after a job of nearly 14 years. I have been given 16,000 as redundancy and 3 months in lieu of notice which I have not got to work. My questions are below if any can assist me please.

* How much will the IVA take due to me being in the last year. (I don't have a job)
*Will they also take from my Lieu of notice?

I a stressing because my partners earns a low wage and we currently have no boiler as British Gas cannot fix this and I need a new one and have 3 children.

I need to know if it is definite that they will take the redundancy.

Please help me?
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by Foggy » Sat Jun 03, 2017 3:36 pm
First you will have to check your paperwork for the redundancy clauses -- but -- generally -- most agreements allow you to keep a sum equivalent to 6 months salary, from which to live and pay the IVA while you look for replacenent work. The rest will go to the IVA, including the in lieu monies (although, you might be able to convince the IP that the in lieu money can keep you going for that 3 months and the redundancy money can THEN fund the 6 months from them on). If, at the end of the 6 months, you are still out of work you will need to discuss a payment break, or even a variation to accept payments to date in full and final payment. You really need to discuss this all with your IP, after checking what you have already ah=greed to in your proposal.
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