www.iva.co.uk

My ex wife and i are in an iva with Harrington brooks,has been running for 16months,its likely i will be made redundant next week,we live in seperate houses but have kept a joint iva
If i dont get back into a job immediately its likely i will lose my privately rented house,i will receive some redundancy money which i planned to use to keep me afloat paying the rent and bills for about 2months while i look for another job,i know i will need to inform the iva company but will they take the redundancy money from me?

Hi, I'm sorry to hear about the redundancy. Do talk to your IP and some money should be able to be retained to keep you on top of things. Hoping you're successful in finding alternative employment soon. x

thanks,if i continue paying do i still need to let them know? i really need the money to keep me afloat to look for another job

You do need to advise them of the redundancy, however it is usual for the debtor to be able to retain up to 6 months of your 'normal' income so you can maintain your obligations (rent, utilities, IVA payments etc).

Always best to be completely upfront with your IP as these things can come back and bite you in the future.
I am sure that you will be able to retain the payment if you say it will help you for 2 months until you find alternative employment.

Good luck with the job hunting.