F & F

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casiquebrado

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Post by casiquebrado » Fri Nov 14, 2008 9:05 pm
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Hi everyone.
I've been in an IVA since March 2008.
Looks like I could be redundant either next month or June [:(]
Is that too early for a Full & Final ?
No way will I get anywhere near my current salary when I get another job [:(]

Thanks for your time.
Casi
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Adam Davies

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Post by Adam Davies » Fri Nov 14, 2008 9:12 pm
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Hi
It is possible that you could offer all or part of your redundancy as a full and final.
Some IVAs have a "no variation in the first 24 months" clause but don't let this stop you putting forward your offer.
Good luck
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Fri Nov 14, 2008 10:28 pm
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If your circumtances change sufficiently to warrant a full and final settlement, then this may be acceptable to your creditors - but do remember that your redundancy money is there as compensation for loss of office, and it is dangerous to gamble on making an offer of settlement if you know that you will not get a similarly paid job.

At the end of the day take advice directly from your IP on this issue if and when it becomes necessary to consider it.
Regards, Melanie Giles, Insolvency Practitioner
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