Redundancy 10 payments left to make

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by harrysmummy78 » Wed Apr 05, 2017 9:23 pm
So just as I was beginning to see the light at the end of the tunnel with only 10 payments left to make before our IVA's are complete subject to there not being enough equity for an extension, I have been hit with the news I am being made redundant as far as I am aware I will only receive 9 weeks pay out I have worked for them just short of 10 years. Will all of my redundancy be taken off me or could there be a chance of me using this to complete the IVA? we currently pay £210 per month and I do not think we could manage on just my husbands salary. we are with CF. :(
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by kallis3 » Thu Apr 06, 2017 7:39 am
You are normally allowed to keep up to six months worth of redundancy pay so I imagine CF won't want it. Speak to CF and explain the position to them. It may well be they accept payments to date as a full and final and close your IVA down - it's worth asking.
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by Foggy » Thu Apr 06, 2017 7:41 am
You are usually allowed to retain up to 6 months salary equivalent in redundancy, with which to live ( and pay the IVA) while looking for work. So, on the assumption the compensation will be yours, you could use it for a F&F offer in the region of £2,000 (assuming no extension). Or, you could go for broke and request the F&F based on payments made to date (basically asking the creditors to call it quits). Speak to CF -- they are very helpful, usually, on the phone.
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by Denise.8 » Thu Apr 06, 2017 5:27 pm
Fingers crossed for you! CF have been ok with me, pretty fair ( although I do feel like they just want rid of us PJG'ERS asap!)
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by luluj » Sat Apr 08, 2017 3:25 am
Difficult time at this stage of your iva ... speak with CF and ask them to accept payments to date - you have nothing to lose in asking.
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