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Please help

I am currently under the terms of an I.V.A and am about to start proceedings to become bankrupt.

The question I want to ask is;

Today I have been told that I am being made redudant, how will my payout affect the bankruptcy???

Any help appreciated

:mad:

Comments

  • gpkwells
    gpkwells Posts: 158 Forumite
    As far as I am aware a redundancy payment is to support you untill a new job is found.

    You could certainly use some of it to pay your BR fees.

    If you have cash left and are working when you go BR then I imagine the OR will view it as an asset and use it to pay your creditors?

    It may be a protected item - not sure. Someone wiser than I will come along and answer in more detail.

    Good luck pal!
    😬😬😬😬😬😬😬😬😬
  • tommo20
    tommo20 Posts: 85 Forumite
    Hi Dave,

    Sorry about the Job.....Can't help with your question but welcome to the board and good luck with the BR.
    :beer:Officially B.R 08.09.08 :beer:
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