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T O P I C R E V I E W
sueann
Posted - 21 November 2008 : 10:11:29 If I am made redundant during my IPA period (I was made BR in Aug 2008) does the OR have the right to take this from me. Hopefully no decisions on closing our office are going to be made just yet but when our building lease expires we may all be redundant Feb 2011, but there is alot of uncertainty and a very tiny chance of this being earlier, I just want to be prepared in what to expect should this happen.
2 L A T E S T R E P L I E S (Newest First)
sueann
Posted - 24 November 2008 : 09:56:22 Thank you for your reply that is good news. I can't see myself being made redundant during my year of BR but it may probably occur whilist I am still paying my IPA.
If... the world does come crashing down sooner than expected and I receive redundancy payout during my year of BR can the redundancy money be taken off me then?
Reviva UK
Posted - 22 November 2008 : 18:58:45 Hi
sorry this was missed.
If you are discharged and then receive a lump sum from any source then this is rightfully yours and is not classed as a windfall.
Not 100% sure how the OR would view this.
The options are:-
As it is an Income Payment Agreement and your income has stopped then so would the IPA until you started work again.
Alternatively you may decide to continue to make the IPA payments from the lump sum .
I suggest that the first option is more likely
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
