Page 1 of 1
Will IVA take my redundancy money?
Posted: Sat Oct 16, 2021 1:00 pm
by Tracyb
Hi
I'm being made redundant very soon I have an IVA in place but my worry is I am not well enough to work
Will the IVA take all my redundancy?
Please advise
Re: <t>Will IVA take my redundancy money?</t>
Posted: Sat Oct 16, 2021 1:55 pm
by kallis3
You need to speak to your IP about your change in circumstances and explain that you won't be able to work. They may need medical information from your doctor as to your problems. It may be that they will be sympathetic and let you keep some whilst you sort out benefits.
Re: <t>Will IVA take my redundancy money?</t>
Posted: Sat Oct 16, 2021 8:04 pm
by Foggy
You should certainly be allowed keep an amount equivalent to 6 months income, with which to carry on living ( and paying the IVA) and the situation will be revisited in 6 months if you are still not working. Next steps will depend on how long you have been in the IVA and income vs. expenditure going forward.