www.iva.co.uk

Unfortunatly I will be out of a job and the company are going to be paying me the minimum. Which is just under £3K. For 12 yrs work that is pathetic.

Shall I call my IP now and tell them or shall I wait till the 17th May?

I would speak to them immediately so they know what is occurring and be able to hopefully make alternate arrangements for you. They may be able to arrange a payment break to enable you to find another job and tag it onto the end of the IVA Term or if you are near the end of the IVA could see if they can conclude it early. Whatever your circumstances its best they know now so they can prepare rather than you just not be able to pay next month and go into a breach.

Your IP will appreciate the call straight away so that they can discuss this implications of this with you.

So sorry to hear about your job, and I really hope you can find something else soon.

sorry to hear about your redundancy wannabedj hope you find a better job,good luck.

Thanks all. Rang today, hopefully my IP will get back to me later on.

So sorry to hear that you have lost your job.

Hope you get another job soon, and that you can sort things out with your IP.

Sorry to hear about your job...I know how it feels. Hope you get another job soon.

How long have you been in your IVA?

I hope you find other employment very soon. x

Julie wrote:

Sorry to hear about your job...I know how it feels. Hope you get another job soon.

How long have you been in your IVA?

I'm applying now. Just that there are so many people in the same industry as me

Just 9 months. Although just a short amount of time, it's taught me a valuble lesson in money. Only spend what you can afford. If it means credit, save for it (if that makes any sense lol).

I thought one of the advantages of the IVA was that you don't have to make payments if you get unemployed during the IVA ?

I think you can take ask to take a payment break mark and this can be sanctioned with your IP's permission but you would need to catch these payments up when you found alternative employment.

You can ask for a payment break, and I am sure it would be granted, but it's not set in stone as far as I am aware.

Wannabedj, I hope you get lucky with a job soon.

Under the new 2010 IVA protocol, you can take a payment break of up to six months in the event of job loss, but you can only do this one during the course of the IVA without sanction of creditors. Obviously any redundancy funds have to be used up first before this can take place.

Hopefully your IP will be understanding and a solution will be found.

Make sure your CV stands out from the rest and sell yourself. It seems obvious but you'd be surprised how many applicants don't do this.

Good luck xx

Thanks Mel - wasn't too sure about that.