It is not a statutory requirement to confirm the employer's name - but if this is left off creditors may well ring to ask for it and the IP acting for you would have to provide the information.
If it is not stated in your contract of employment or any other subsequent letters - then you have no obligiation to disclose financial affairs. Just be careful as the wording in your contract may be quite "loose" and subject to interpretation.
I would definitely contact a union rep, I'm sure you're not the first and won't be the last employee to find yourself in this postion.
Thanks, I just checked with Intelligent Finance and because I took this credit card in 2005 they still have my employment details from that time, and in 2005 I was not working for the bank !!!!!. SO -I guess the connection to my current employer could only come through any notification from the IVA !!!
You can always act daft at that point and say you didn't realise you had too. Also see if he can show in your contract of employment and or staff handbook.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
IVAs are a matter of public record on a searchable internet database.
I'm sorry to be a party pooper about this and by all means treat this as devils advocate stuff because I'm not an IVA professional but surely the "lie" might be more harmful than the IVA itself.
Otherwise do you not think the op will have 5 years with the sword of damocles hanging over them?
The only term in my contract that I have identified as anywhere near vague, is that of " You must not act in a manner which may be contrary to our business interested " This is vague to say the least, and therefore I would not feel like I was lying if I entered into an IVA and chose to keep this to myself. Afterall an IVA is meant to be private and down to the individual as to who they tell, is it not ? The FSA guidelines permit employees to still operate whilst in an IVA, and as I do not make direct lending decisions I would not feel I was acting innapropriately
I was in your position a few weeks ago. I work for LTSB which is now part of HBOS group. HR told me the same - that I had to speak to my Line Manager. I did this (eventually) and he was great. He then contacted HR who said as I was not in a selling role it would not alter my role. They said I did the right thing in telling them and even offered counselling.
I would not try and hide this as their treatment of you may be different if they find out themselves.
I know it is a difficult conversation to have with your Line Manager, but believe me the relief is immense afterwards.
Thanks Carrie - you have stated if you have gone into an IVA yourself of whether this is a DMP ? as I think that is probably quite an influential aspect of the HR decision. I very much appreciate your comments here though, as given as you say that we work for the same group it is valuable to know of the reaction from HR from someone in the same position as me. Thank You x
We didn't think DMP was for us as debts would have taken us 15+ years to pay off.
I am not sure if our HR depts are merged yet. If they are I think you just got an unhelpful member of staff.
The union were no use, just told me to speak to HR.
If you feel unable to speak to you Line Manager is there another manager you can speak to. They are obliged to treat you with condidentiality.
Thanks Carrie, to be honest my line manager is a great guy and I would certinaly have no worries about speaking to him about this. To be honest my worry/hesitation is more based around my own embarrasment at being in this position when I am supposed to be a proffesional. I also worry as to the HR reaction but hopefully if I get the same support you did it may not be that bad
You have nothing to be embarrassed about snowmonkey. I am sure that there are very good reasons for your current difficulties, and I am also sure that there are many other people in the same position as you within the bank - some of which are probably in managerial positions as well.
