You would need to contact your IP and request a payment break. Depending on the level of redundancy, how long the IVA was operating and the chances of finding a new job, it would be possible to close the IVA down or vary the terms. IVAs can be flexible so speak to your IP.
The new IVA protocol now actually allows a payment break of up to six months as part of the terms of the proposal - to cover things like redundancy - so if you are thinking of proposing an IVA at this moment I would pick a firm who have adopted the use of these procedures.
