I started my 5yr IVA in May 2009 with payments of £620 per month. During the proposal stage, my IP mistakenly sent the proposal papers to my employer. Given my position was one with significant financial authority, upon audit this was frowned upon as was invited to resign before being dismissed.
Obviously I wasn't a very happy man at this point but managed to secure another similar job on the other side of the country. I had to miss 7 payments, which were added on to the end of the arrangement, whilst between jobs.
Sadly, and unexpectedly, I have been made redundant again in early July alongside several other colleagues.
My IP says I can miss July and August, making 9 missed payments in total, but under no circumstances can I miss another. Given I have no work and, frankly, this situation spiralled thanks to their serious error, I feel a little put out by their matter-of-factly response. They have not indicated any solution if I am unable to find work by September. I do not want my IVA to fail under any circumstances.
To add to my concerns, my partner gave birth last weekend to our first child - all planned given I thought, at least, I had a secure job.
Any advice on how I should proceed with dialogue with my IP? As a heads up I'll be able to make a payment in September, but if I am still unemployed there's no chance I will be able to pay from October.
Do you have any assets to protect?
maybe bankruptcy would now be a better option? It would draw a line under the whole debt situation and allow you to concentrate on your family rather than worrying about debt.
Diabolical! I would be tempted to seek compensation from your iva provider for the forced resignation. It was a SERIOUS breech of confidentiality. I would also be looking at how your former employer handled this as (1) they should not have kept the proposal on file which is in itself a breach of data protection rules and (2) you may not have been in contravention of your contract and so they would not have had grounds for your dismissal.
Regarding keeping it on my file, it's a grey area. I spoke to my solictor at the time who said a tribunal would be very long indeed, and likely to adversely affect my career vs a mutual resignation. My solicitor said there was possible recourse against my IP but fees are the barrier - it's not a no win/no fee area.
I hold my hands up that the debt itself was my problem, but losing my job thanks to my IP certainly doesn't help paying it off. I was pretty forgiving about this because, at the time, it seemed they bent over backwards to assist with a payment break.
I am to begin with a soft approach, by asking for clear alternatives and suggested solutions if I am unable to find employment by October. If I don't get a satisfactory response I will have to remind them of why I'm in this situation in the first place.
Any other suggestions appreciated, especially from the experts.
I agree the soft approach first ---- more bees are attracted to honey than vinegar. However, I would still gently remind them of why this situation has arisen right away.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
