hi i am in an iva and have just been made redundant,the iva as been going for 2 years now,my wife also as an iva(for the joint debts) and is employed part time.I pay £219 per month and my wife pays £31 into our respective ivas.
what position does that leave us in and if any what options do we have.The house is owned jointly and we have an outstanding repayment mortgage of £60,000.I am currently claiming jobseekers allowance of £60.50 per week
thankyou
mark
hi mark..we are also facing a similar situation at some point and are 24mths into IVA...i dont have answers but know someone here will be answering your post soon...keep looking and hope all goes well with you and your wife....
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy
Hey Mark, welcome to the forum, I'm really sorry you've lost your job. Did you get any sort of redundancy package? What do you think your chances are of getting another job soon? You really need to talk to your IP as if you didn't get any redundancy pay then you will need a payment break while you find work. Hang on for the technical experts to advise you. X
By the way have you miss-typed your wife's payment amount?
Sorry to hear that you have lost your job, what a pain for you.
I can only echo what Viki has said, do contact your IP and have a chat with them. They wont want your IVA to fail so I am sure that they will be able to offer you a solution until such a time as things improve for you.
I did not miss-type my wife's payment the amount is £31,most of the debts were in my name only.
i have recieved some redundancy pay so can afford to pay the iva for a few months
Just keep your IP informed of any developements. Remembering that any money left from your redundancy(once you gain further employment) may be scooped up into your iva pot.
What were you employed as,just out of interest,seems to be a lot of builder/building industry being laid off.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi Mark
The secret is to keep your IP informed.As others have said any redundancy money can be used by you for living expenses whilst you find work.Your IP can give you a payment break to assist you and any missed contributions can be tagged onto the end of your IVA
Regards
Just wanted to welcome you to the Forum. Sorry to hear that you have been made Redundant, hope you find something else soon. You've done well in your IVA for the past 2 years, lets hope you can get some help and advice from your IP. Good Luck and keep posting.
xx
IVA accepted 13/11/2008..17 payments down,55 to go..
