IVA Security Question

[andrewgoodman121]

i am reading a lot of people on here who are working in the Financial Sector or Police and are being in what i call Discriminated against and Removed from Site or suspended from there jobs because they are NOT!!! Bankrupt but in an IVA.
I think it is absolutely RIDICULOUS!!! as with an IVA, YOU ARE PAYING INTO IT!!!!! to free yourself from Debt and is Legally Binding unlike Bankruptcy.
This is a Very Serious Problem and needs to be Addressed.

[andrewgoodman121]

How can you be treated like a social misfit when you are paying into an agreed, legally binding settlement for 60 months.
You are NOT!!! Shirking you are facing upto your responsibilities.
It makes my Blood Boil, It really does with what goes on in the UK.

[Skippy]

I totally agree with you Andrew, but can I correct one thing - if you are bankrupt and have any disposable income you have to pay a percentage of this into an Income Payment Agreement. While I know this is lower than in an IVA, BR and an IPA are still legally binding.

[ianmillington]

So far as the police force is concerned, my understanding is that they would prefer their officers to be in some proper procedure (DMP or IVA - bankruptcy may be difficult in some forces I think) rather than struggling unsuccesfully to pay their debts, which leaves them potentially open to bribery.

The Banks - they seem to differ wildly. Some of them don't want their staff who are in advisory positions going bankrupt or in an IVA but are otherwise OK. Others have a draconian policy and see any attempt at a debt solution as grounds for dismissal as a poster here recently found out to her cost.

I agree with you that it is crazy but in light of it would recommend that anyone who is looking into Bankruptcy/IVA ought first to check their contract of employment.

Ian

[size5]

Couldn't agree more Ian, I recently spoke to a lady who worked in a bank re her finances and after she had spoken, anonomously, to her HR department she came back to me with the news that if she looked at an IVA they would virtually frogmarch her from the premises but they would be ok with a DMP as they viewed it as a more responsible way of clearing her debts even though that would take her a considerably longer time to repay. Other banks, as you say, have been fine when faced with similar circumstances.

[ianmillington]

How perverse! Wonder if their view is coloured by whether the debtor has taken out a staff loan?

[size5]

Quite possibly Ian as this lady did have one, but in reality the only reason her finances went bump was the age old one of marital breakup. Seemed very harsh to penalise someone not for frivolous spending but rather for a situation that she had no control whatsoever over.

As you say, perverse.

[Oliver]

It is vitally important that anybody considering a debt solution should read or obtain a copy of their T&C's of employment and employment handbook or consult their HR department for further advice before going ahead with a particular solution.

[andrewgoodman121]

it,s crazy, you go to work to earn money and clear your debts and then get suspended or dismissed for trying to clear them in a legal way, it just beggars belief.
i thought an IVA was that you have to be in full time employment to at least get it accepted.
The only realistic reason i can fathom for maybe someone getting suspended or dismissed is if you are working for one of your creditors.

[kallis3]

Have only just come across this thread, but thought I would put my two penn'orth in!

I work as a civilian for a police force in an office capacity, but it is a post in which I could be open to bribery attempts. I have not told work about my IVA, nor am I going to unless someone checks on the register and notices my name. As long as I maintain my payments throughout the term I am hoping I will be ok.

I do know that my force won't take on any new staff, police or civilian, who are bankrupt. Not sure about an IVA.

A large midlands force will not take on anyone who is bankrupt or in an IVA - they count them both as the same.

I do think it is wrong that we are discriminated against when we have taken the positive step of admitting our problems and actually doing something about it.

[facingittogether]

i agree with you kallis!

i work for the courts service and i have not told anyone at work!
cannot see anywhere in my contract that i have to tell them!

barb x