www.iva.co.uk

hi just been made redundant and im in my 4th yr on iva i still owe £5700 and my redundancy pay out was £4000 if there is an option to use my redundancy to make a full and final payment could i offer my creditors less as i still need to use some of my money for living expenses and as i have only £4000 this amount wouldnt cover my debt but could i offer less then 4000 thanks

My understanding is that most IP's will encourage you to retain up to 6 months living costs when redundancy occurs. More specific case advice though your own IP is best sited to offer you the guidance that you need.

Let us know how you get on.