www.iva.co.uk

I have been in an iva for 2 years.I have just been made redundant and was due to be paid my months wages next week ,however will not receive any money for 8 weeks now.I am the main earner.

1. will my state redundancy payment and 12 weeks payment in lieu be treated as a windfall or can i use that money to live on until i get another job?

2.Next week i only have enough money to pay either iva or mortgage-what shall i pay?

Any advice appreciated please.

Hi aragorn and welcome to the forum

Has your employer become insolvent themselves, hence the delay in receiving the money?

You need to speak to your IP to see if you can have a temporary payment break until you receive your redundancy money - which is not a windfall as it is necessary for you to live on until you find alternative employment.

And prioritise your mortgage payment as this is the roof over your head, but worth asking if they will give you a payment break as well.