Hi, Ive got myself into a bit of a mess, im 4 years into a iva and recently secured a secondment with my employer to undertake nurse training, as i was still going to be getting my wages i didn't foresee a problem with this and i was absolutely thrilled to have been selected to undertake the course. The problem i have is at the moment i have a salary sacrifice car which is under a 3 year lease through my employer, im 2 years into the lease and they are saying as im no longer going to working in the community the car has to go back, this wouldn't be a problem as i half expected that the problem i have is that they are charging me a substantial amount to return it as the lease will be ending early, i've looked at the contract and it says if i was to leave employment or go on maternity leave the car is returned with no fees, i honestly thought that this would include the secondment but no. I've signed the contract as soon as the secondment was offered as it its something i really want to do, now i'm terrified i've messed up the iva, i haven't informed the iva yet cause i've been worried about the consequences as anyone else been in a situation like this that could offer any advise. thank you !
Kaza, sorry to hear about this. I don't know how much the payment is but is there a possibility that you could take a payment break to cover it?
You could of course also see if the IVA company will take payments to date as a full and final.
Get Christmas and the New Year out of way (I rather think most companies shut down for at least a week) and speak to them about it.
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
no unfortunately a payment break wouldn't cover it, im looking at around 2,000 ! to be honest i really dont know what to do, will ring them as soon as they open, im just really worried ive messed things up just by trying to improve my future prospects feel really stupid for going for it now,thanks for replying and hope you and your family have had a great christmas and all the est for the new year !
Nobody can knock you for trying to improve your prospects! I hope the secondments works out for you.
I am sure your IP will be sympathetic - I take it there isn't a family member who could loan you the money?
Enjoy the rest of Christmas (as much as you can!!!) and try not to worry at the moment.
Hope the New Year brings you some good news.
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
thank you no there just me and if there was i wouldn't ask, i ring them in the new year, i just have to face the music I spoke to the union about it as the contract says its paid off in the event you are leaving, but they say im not leaving im just not using the car for work, my argument was if im on maternity leave im not leaving and im not using the car for work so whats the difference, feel like im being ripped off big time ! they also cant give me a firm figure till i send the car back which is worrying it could be more it could be less, cab suggested i try add it on to the iva, i dont know if that might be a option but i ask them, thank you so much again for taking the time to reply ! hopefully it be all worth it when i eventually graduate at least i be fortunate to have a guaranteed job at the end of it with all the uni fees paid for and twice the salary im on at the mo, i focus on that till the hols are over lol
You are doing your best for yourself. Not sure about adding it but it could be an option.
Great payrise as well!!!
Let us know how you get on and don't get me started on unions!!
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
lol i totally agree with you, waste of time they are pay them for nothing ! and yes the pay rise will be worth it, light at the end of it thanks again !!!!!!!!!!!
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
Be really careful - the t&c's of allow for what is owing to be taken out of your salary directly in one lump sum.
Additionally adding what is owing to your iva may either breach your employment contract or any professional association obligations.
Work out with the company supplying the car what the actual process is, when they start the clock etc.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Maybe worth looking into the ability to transfer the lease over to someone else within your Health Trust. Check with your Leasing Department and Union for support in this.
Use either you Staff page or Global email - to see if you can get someone interested
Sorry but never use global email for anything like this - you should be restricted from doing this anyway.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Thank you for your advise, I wouldn't try to transfer the lease, I wouldn't want anyone to go near these cars, feel they a total rip off !Think I have a little bit of good news which gets me a little closer to my goal Apparently I am allowed to apply for student finance , the first payment will nearly cover the payment for the car to go back so can use that, big relief cant wait to get rid of it ! cab told me iva shouldn't have a problem with the student finance as by time it re piad iva will be finished anyway and its not repaid until you are earning above a certain amount, so fingers crossed !
That's good news kaza - hopefully it will all work out ok.
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 spoke to the union about it as the contract says its paid off in the event you are leaving, but they say im not leaving im just not using the car for work, my argument was if im on maternity leave im not leaving and im not using the car for work so whats the difference, feel like im being ripped off big time ! they also cant give me a firm figure till i send the car back which is worrying it could be more it could be less, cab suggested i try add it on to the iva, i dont know if that might be a option but i ask them, thank you so much again for taking the time to reply ! hopefully it be all worth it when i eventually graduate at least i be fortunate to have a guaranteed job at the end of it with all the uni fees paid for and twice the salary im on at the mo, i focus on that till the hols are over lol
thanks again !!!!!!!!!!!