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I have a IVA and am current taking my employer to court for unfair dissmissal. If i win a large some of money can i clear my IVA before the 5 years are up or do i have to continue to pay it even if i have covered the total amount i owed in the first place.

Hi Welcome to the Forum
I am a HR specialist - how far down the line are you with the tribunal claim ? Perhaps you could post a few more details ?
The money depends on certain circumstances - have you got another job yet? How long have you been in your IVA?
If you post more details I am sure one of the experts will be along to give their opinion on this?
Also, does your IP know about this claim - they will be able to advise you as they have detialed knowledge of your case.
Sharon

Hi
The maximum that you can pay into your IVA is your total original debt plus IP fees and statutory interest,less payments already made.
Once you have paid this amount our IVA will cease
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi thanks for your response. I am one year into my IVA and i have another job its not in my normally profession but is money that will pay my IVA. the company who i have my IVA with are aware of my cirumstances as i had to move home. They have been very understanding due to the fact i have also been seriously ill so was out of work for some time. My case has been filed with the employment tribunal and i am currently waiting for a date to go to the tribunal. I am also taking them to court for disability discrimination and have been advised i could get a large payout. If sucessful i just wanted to know where i stood with my IVA.

That will depend upon the amount and timing of the award. The legal position is that it is probably a windfall and therefore needs to be handed over to your Supervisor, but I am sure that they will work hard to try and keep you some of the money if you have suffered hardship as a result of this claim.

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

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http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp