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trish701
- Posts: 2
- Joined: Thu Aug 26, 2021 3:06 pm
Hi I’m currently on my final year of a 6 year IVA
I was made redundant in February this year and had to hand my redundancy over but allowed to keep 6 months while looking for a job. I started working again 2 months ago but less hours and much lower income. Because I started work before the six months were up I have a bit of the redundancy left but will not be earning enough to be able to make my last 4 payments would I be entitled to use the left over redundancy to cover this ?
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Breezy
- Posts: 195
- Joined: Thu Jun 24, 2021 10:04 am
What should happen is that the remaining redundancy should be handed over and, in view of your reduced income, a new I&E carried out to get the remaining payments reduced. However, with only 4 months remaining, your IP might be open to discussion.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
