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Posted: Sat Nov 27, 2010 2:10 pm
by casiquebrado
Hi everyone.
Just been told I will probably be made redundant.
A) I won't get a job paying what I earn now,
B) Fortunately , I will get a reasonable severance payment , so hope to be able to offer an F&F .
Has anyone offered F&F , and what were thet allowed to keep whilst looking for a new job ?
Thanks for any advice.
Regards
Posted: Sat Nov 27, 2010 6:29 pm
by kallis3
Casi, that's not good. Sorry to hear it.
You do need to speak to your IP. If you get a payment then you are normally allowed to keep up to six months worth of money while you search for another job.
Posted: Sun Nov 28, 2010 2:00 pm
by casiquebrado
Hi K , thanks for your reply.
Nothing is final yet , but best case scenario is a 25% salary reduction !
I realise that you are 'normally ' allowed to keep 6 months net salary , but as we all know , it could take substantially longer to find a job , which is why I want to try a F & F , so that I can conclude the IVA , and concentrate on finding a job , if made redundant.
ATB
Posted: Sun Nov 28, 2010 3:19 pm
by Broke of London
As redundancy is paid to creditors anyway as a windfall a f&f is probably not appropriate. You will have up to six months to find a new job and if you cannot then they may accept payments to date as a f&f or fail the iva, in which case there is always a dmp or br. However, it would take another three months to fail the iva so really you have up to nine months to find a job. That gives you quite a long time.
Posted: Sun Nov 28, 2010 3:22 pm
by kallis3
Hope you manage to get another job soon.
Posted: Sun Nov 28, 2010 3:27 pm
by Skippy
Good luck from me as well x
Posted: Sun Nov 28, 2010 3:55 pm
by MelanieGiles
Can you contact me directly at the office on this point Casiquebrado. Your circumstances will be unique to your own case, and I would prefer to discuss this with you off line. Once we have an agreed way forward, this is the right time to share ideas with your forum friends.
Posted: Sun Nov 28, 2010 5:40 pm
by casiquebrado
Hi Mel,
Of course I will.
Hope I haven't offended you.
ATB
Posted: Sun Nov 28, 2010 6:13 pm
by MelanieGiles
Not at all. This forum is a great place for me to find out about my client's trials and tribulations, so I am glad you posted - but I prefer specific advice to be given to specific circumstances, and that could confuse other posters.
Posted: Mon Nov 29, 2010 1:51 am
by casiquebrado
Thanks Mel. Will e-mail you at the earliest opportunity.
Thanks for your support.
Posted: Tue Nov 30, 2010 8:57 pm
by casiquebrado
Well , it looks more positive at the moment.
IF there is an issue , it won't be for a good few months.
Will keep you posted , must go as I am at work.
Thanks for all your kind messages.
Posted: Tue Dec 14, 2010 7:25 pm
by thomo4258
Good luck with the future, if it puts your mind at rest I was made redundant in July and still had 2 years left on the IVA paying £400 a month, I contacted my IP who set up a variation meeting for the 5 November where my f&f offer of £5000 was accepted. Luckily Ive found another job but at a dramatically lower wage than before but its paying the bills - none of which are debt
The future can only get brighter now.
Posted: Thu Dec 16, 2010 2:36 pm
by casiquebrado
thomo4258 wrote:
Good luck with the future, if it puts your mind at rest I was made redundant in July and still had 2 years left on the IVA paying £400 a month, I contacted my IP who set up a variation meeting for the 5 November where my f&f offer of £5000 was accepted. Luckily Ive found another job but at a dramatically lower wage than before but its paying the bills - none of which are debt The future can only get brighter now.
Thanks Thomo , your reply is much appreciated.
Enjoy your debt free Christmas.
Regards