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Posted: Fri Jan 07, 2011 2:16 pm
by debbie.pgpegg
If I GET MADE REDUNDANT WOULD THE IVA COMPANY TAKE MY REDUNDANCY ?
Posted: Fri Jan 07, 2011 2:20 pm
by kallis3
Hi and welcome.
If you were in an IVA and were made redundant then you would be allowed to keep up to six months of your payout to fund your normal expenses whilst you tried to find other employment. Anything left afterwards would go towards your IVA.
Posted: Fri Jan 07, 2011 4:07 pm
by Broke of London
Hi - I'm sorry to hear your job is under threat. As Jan said, the creditors are generous in their support for finding new work but understandably want to improve the dividend on your debts where they can. Fingers crossed it doesn't happen x
Posted: Fri Jan 07, 2011 4:27 pm
by MRBLUESKY
agree with jan,debbie could you post with lower case please.capitals is classed as shouting.
Posted: Fri Jan 07, 2011 4:49 pm
by James Falla
Hi Debbie
Depending on how long your IVA has been running, the amount you still have outstanding and how much redundancy money you get, it may also be able to carry out a lump sum settlement of your IVA using part of the money you receive. This is generally the best outcome and you should discuss the possibility with your IP.