My wife has been offered reduncy how would we stand with our iva it only had 18 months to go the last couple of years have been hell not from an iva point of view but every thing else in 2008it all started my wife lost a baby & was diagnosed with cancer (ct scans have been clear since) her employer has been most unsupportive she has wanted to leave
Then the 2010 was another crap year my wife wrote the car off the IP was most unhelpful as we needed a car so we could get to work as there is no other option
This is when I was starting to think this was a mistake !
we are wondering how we stand if my wife was to take reduncy?
So sorry to hear of all your problems and hope that your wife continues to be all clear.
As regards the redundancy, you are usually allowed to keep up to six months pay to fund normal expenses whilst she finds further employment and then anything left will need to be paid across and your IVA continue as normal.
If she needed to give up because of her health then I think you could offer this sum as a full and final to finish the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi - you have had a rough ride! I'm pleased to hear your wife has recovered; it must be such a relief for you both. If you haven't sorted a car yet, your IP can sanction a payment break or with creditor approval you can lease a car. You will need to speak to your IP before you wife accepts the redundancy to see how it will be treated and then decide what you want to do. Being a steady eddy, I'd prefer the security of a job but that wouldn't be everyone's decision. Is yur wife's role at risk if she doesn't take voluntary redundancy?
I think looking for a new job is preferable - sounds as though the firm she is with aren't helpful and she wants to leave.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Just a point about the six months retention - you will still need to maintain contributions during that period as the allowance you are made should be for your full salary.
