I completed my iva last year and this is now removed from my credit report along with all defaults. I have worked for my employer for 10 years now and have never been asked any financial related questions as part of my employment contract, however this week we have been asked to complete a financial sanction form which asks the question have you ever entered into an agreement with your creditors or been made insolvent. The honest answer is yes I have but I really don't want them to find out about this but also I don't want to lie. I have gone 6 years without being asked this question. It is now gone from my credit report so if I answered no is there any other way they could find this out. I'm really worried as the question is have you ever, not are you currently.
I'm afraid I'm going to have to suggest that you be honest about this - explain that it was over a long time ago and that you are now debt free.
The choice, of course, is down to you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think it may be worth having a word with someone you trust in authority. Explain to them that you are happy to answer the question but you would prefer it not to be on record especially since it is no longer on your credit file.
I am sure your employer will be sympathetic especially as you are a long standing employee.
We have never had to complete these forms in previous years. I think because the approved financial advisers complete the fit and proper questionnaire each year my employer has just decided to get everyone to complete one even the office staff like me. Even though there is no requirement for me do one by the financial conduct authority, it's just something internally he has decided to do.
It does happen sometimes - nothing to worry about!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sympathise totally with you as I am in a similar position. Unfortunately when IVA company sell the IVA they infer that once the 6 years is up that is the end and you can start afresh, this is not the case when these questions are asked and unfortunately they are being asked more and more. Just hope my boss will be understanding when I have to explain to him. Have been with the firm 15 years with no problems so I think I should be OK Good luck and keep us informed as to what happens
I too have to fill out the fitness and proper questionnaire each year as I work for a stockbrokers but I'm back office. This was the thing I dreaded most at the beginning of our IVA 4 years ago. I decided to have a chat with my boss first, just after we began the IVA and couldn't quite believe how understanding he was! More than anything, my honesty was admired and being in the IVA had no real impact on my job. My boss was more like 'OMG, you don't have any credit cards!!' Compliance officer was fine - I just did a separate A4 piece on the why's of my situation and now each year I tick the same box but no more is ever said. So from personal experience I found my honesty was the best policy.
IVA started Sept 2012, Full & Final accepted Aug 16th 2016 & CC issued 10th Jan 2017
Thanks for the replies, I really appreciate this.I work in financial services so I guess this question will come up alot. I just wish your past was in your past, because even in 20 years I will still have to answer yes to this question.
Not good I agree. Hopefully it won't cause you any problems.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I've been at the same company 17 years now and will have to complete the same form each year with the same answer regardless even when we finish the IVA! But it's quite common knowledge for me here with everyone and I feel no shame in it and proud that I took control of my finances more than anything and no one I work with seems to have any problem with it - if anything I'm trying to rehabilitate them!
IVA started Sept 2012, Full & Final accepted Aug 16th 2016 & CC issued 10th Jan 2017
Thanks again everyone, and I love the fact you have that sort of relationship with your co workers. I'm quite a private person and just wouldn't want anyone to know. I know what you mean though as they are always complaining how much debt they are in and they have no money and I can sit there with a big smile on my face as I have no debt.
Oh trust me it took a while before I became so open about it.But now I almost relish in it as I'll be debt free soon (ish!) like you, and they still have credit cards / loans and god knows what! Let's hope if you decide to tick the 'yes' box, that if you have a chat with your boss or compliance in private that it should then stay that way. Other staff do not need to see the form (mine's filed away in all my other HR records and locked away). Good luck with what you decide to do but it really shouldn't have any impact on your job
IVA started Sept 2012, Full & Final accepted Aug 16th 2016 & CC issued 10th Jan 2017
