I have recently lost my job...

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jake
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by jake » Fri Jul 21, 2017 5:15 am
Hi i have recently lost my job and going through an IVA and now I'm not earing an income what will happen with my IVA?
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kallis3
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by kallis3 » Fri Jul 21, 2017 6:19 am
Hi,

You need to speak to your IP company and explain this. Were you made redundant? If so then most companies will let you keep up to six months worth of money while you look for another job, otherwise they may allow you a payment break.
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Foggy
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by Foggy » Fri Jul 21, 2017 6:36 am
If you are already in the IVA then you need to follow Kallis's advice and speak to your IP. If you are still setting up the IVA then you, again need to speak to your IP to decide a, possibly, different route at least for the time being.
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Lisa Thomas
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by Lisa Thomas » Mon Jul 24, 2017 8:41 am
[list=]They might reduce your payments accordingly

or;

They might allow you a payment break

or;

Your IVA could fail.

[/list]

It's important you notify your IP asap as to what's happening.
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