Would I have to give settlement money to my IVA company ?

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Dan.69
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by Dan.69 » Thu Dec 07, 2017 4:15 pm
My employer has offered me £15,000 settlement and i am in the fourth year of my IVA. Would i have to give the money to my IVA company? Obviously they will be aware of the settlement because it woul;d be paid in my fibal wage and be shown
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Foggy
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by Foggy » Thu Dec 07, 2017 4:48 pm
What is this a settlement for ? Redundancy ? Generally, in cases of job loss, you are allowed to keep the equivalent of 6 months salary and the rest goes into the IVA. Yoy use that 6 months salary to live on and to pay the IVA as normal while looking for new work.
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