My Employer

[Spurs71]

I am currently in an IVA but struggling to find the money each month and I am considering going bankrupt.

What I am concerned about is my employer finding out I am bankrupt.

Does anyone know if they would get told?

[MelanieGiles]

They will only be informed in the event that you are subject to a Zero coding for the current tax year, and someone in your payroll department may put two and two together. Zero coding means that your tax code is effctively reduced to zero so that your trustee can gain the benefit of the tax and national insurance you would have paid directly from HMRC until the end of the tax year.

Of they could also read about it in the local paper. Why are you worried about your employer finding out?

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Spurs71]

My main concern is that I have a mid management position and the company might take a dim view.

Would you know how long on average the court are likely to release you from the register as a bankruptee?

[MelanieGiles]

Once you are discharged which is usually at the end of the first year - although I am hearing a lot of peopole are getting discharged much earlier where their cases are simple.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[james.c]

I am middle managment and i called a meeting with my boss the MD and finicancial director i told them of my situation, so it didnt come out later. They appreciated my honesty, kept it to them selves and have never had it held against me

no matter how bad money gets, theirs stll alot more important things in life

[Adam Davies]

Hi
Great advice from James
Remember the best form of defence is attack,so inform them before they find out
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp