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Posted: Tue Jan 08, 2008 2:59 pm
by vickir
Hi can you tell me what would happen if i was to be made Redundant, would i have to pay all of my redundancy pay into my IVA or would i continue paying my monthly amount?
Posted: Tue Jan 08, 2008 3:02 pm
by debbiw
Hi Vickir, i think your redundancy money is to keep until you can find another job, this will of course be reviewed when you get another job. You will still have to keep up with your IVA payments though.
Posted: Tue Jan 08, 2008 10:59 pm
by MelanieGiles
Your redundancy money is firstly used to supplement your lost wages at the rate that you were earning on a monthly basis until it runs out. Hopefully by that time you will have found another job, in which case any surplus money has to be paid over to your IP, and in the meantime IVA payments have to be maintained.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp