question category: IVA

Can I pay my £16,000 redundancy as an IVA settlement and still claim benefits?
Submitted on: 18th Feb 2009 by Non-Member | Total Answers: 1

I have £16,000 redundancy but owe £42,000. Would it be a good idea to come to a full and finnal settlement with my creditors. If so can I claim housing allowance, job seekers etc?

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Re: Can I pay my £16,000 redundancy as an IVA settlement and ...

It would certainly be a good option to discuss this with your IVA supervisor. With IVAs being an insolvency procedure you should notify them anyway.

I don't know much about benefits but I can't see how it would be a problem given the fact that IVAs are legal and binding.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you on whether you qualify. Click here to find out more.

Submitted on: 18th Feb 2009 by Darren Member

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