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Help! Will my redundancy money be swallowed?
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runawayquickly
Posts: 1 Newbie

in IVA & DRO
Hi,
I am a new poster and need advice on my dire financial situation.
I was about to proceed with an IVA when I was unexpectedly made redundant. This has given me the equivalent of two months wages.
I work in quite a specialised field and know there is very little real prospect of finding work in the current climate.
I have debts of 20k.I know suspect that if I go ahead with an IVA I will have to hand over all the redundancy money I have, leaving me and my three kids without a bean for the forseeable future.
What I need to know is, are bank accounts checked during an IVA? Is it likely I will have to hand this over in its entirity?
Thanks
I am a new poster and need advice on my dire financial situation.
I was about to proceed with an IVA when I was unexpectedly made redundant. This has given me the equivalent of two months wages.
I work in quite a specialised field and know there is very little real prospect of finding work in the current climate.
I have debts of 20k.I know suspect that if I go ahead with an IVA I will have to hand over all the redundancy money I have, leaving me and my three kids without a bean for the forseeable future.
What I need to know is, are bank accounts checked during an IVA? Is it likely I will have to hand this over in its entirity?
Thanks
0
Comments
-
Hi,
How far have you got with the IVA process.
Has it been agreed with your creditors or is in still in the process of being set up.:laugh:Free at last0 -
Hi
I hope that you IVA is organised through one of the debt charities?
http://www.moneysavingexpert.com/loans/debt-help-plan#help
if not then you need to talk to them before you sign anything as most IVAs are mis-sold.If you've have not made a mistake, you've made nothing0
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