Hi,I have debt oustanding with 3 creditors

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Coled

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Post by Coled » Tue Dec 23, 2008 1:32 pm
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Hi,
I have debt oustanding with 3 creditors, is it possible to set up an IVA with one of them or does this have to include all your debt and creditors?
The reason I ask is I work for HSBC who I have a loan with and believe it would impact my employment if I were to try and ant agree an IVA with them.
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rayb

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Post by rayb » Tue Dec 23, 2008 2:04 pm
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Hi and welcome,

If you were to have an IVA setup you would have to include all creditors including your Employer.

It might be worth an anonymous call to your HR Department to see where you stand with this
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MelanieGiles

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Post by MelanieGiles » Tue Dec 23, 2008 2:14 pm
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I have clients who work for HSBC and have debts with the bank who have not lost their jobs, but as Ray says you do need to check your own individual terms and conditions, as this may be different from job to job.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Thu Dec 25, 2008 3:39 pm
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All creditors must be included in any proposed IVA. Don't worry about your work place as many employees of HSBC have entered into an IVA. Good point to check your terms of contract though.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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