Redundancy Payments

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vickir

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Post by vickir » Tue Jan 08, 2008 2:59 pm
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Hi can you tell me what would happen if i was to be made Redundant, would i have to pay all of my redundancy pay into my IVA or would i continue paying my monthly amount?
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debbiw

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Post by debbiw » Tue Jan 08, 2008 3:02 pm
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Hi Vickir, i think your redundancy money is to keep until you can find another job, this will of course be reviewed when you get another job. You will still have to keep up with your IVA payments though.
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MelanieGiles

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Post by MelanieGiles » Tue Jan 08, 2008 10:59 pm
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Your redundancy money is firstly used to supplement your lost wages at the rate that you were earning on a monthly basis until it runs out. Hopefully by that time you will have found another job, in which case any surplus money has to be paid over to your IP, and in the meantime IVA payments have to be maintained.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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