I work for financial company, can I take out IVA?

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Post by redgirl » Sat Jun 30, 2007 3:45 pm
I work for a financial company,Royal Bank of Scotland and also have a previous debt with them,can I still take out an IVA?

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Post by Adam Davies » Sat Jun 30, 2007 4:41 pm
You will need to study your terms and conditions of your employment as your job may be affected if you enter into an IVA

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Post by MelanieGiles » Sat Jun 30, 2007 11:53 pm
Hi there

You will need to find out whether having this debt will affect your employment with the Bank if you were to enter into an IVA. I have acted for many people in your situation, and generally exclude employer debts in order to preserve your continuity of employment. But this will need to be fully explained to all of your other creditors so that they are aware that this creditors is being preferred at their expense.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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