Redundancy 10 payments left to make

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
User avatar
harrysmummy78
Posts: 413
Joined: Fri Dec 07, 2012 11:11 pm
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. :(
User avatar
kallis3
Forum Expert
Posts: 71318
Joined: Mon Mar 17, 2008 4:02 pm
Contact
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.
User avatar
Foggy
Forum Expert
Posts: 22652
Joined: Fri Dec 17, 2010 11:14 am
Contact
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.
User avatar
recovering
Posts: 1329
Joined: Mon Sep 26, 2011 8:27 pm
by recovering » 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!)
User avatar
luluj
Forum Expert
Posts: 9678
Joined: Sun Dec 09, 2007 6:54 am
Contact
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.
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Google [Bot] and 14 guests