www.iva.co.uk

If my creditors will not change the terms of my IVA then I may have to declare myself bankrupt. How does this affect my job etc?

Ian, this will probably depend on your profession or if your employer has any clauses in you employment contract or staff handbook, which stipulates you can't be BR?

There are ramifications to bankruptcy which vary according to each individual client and your IP should be able to give you all the advice you need if the variation is refused. However, very few jobs are affected these days which is the primary concern although I did have a client once who had it in his contract that he would be dismissed in bankruptcy. He was a milkman and I never could figure out why they had this in his contract.
What is your job?

Hi
Funny you should say that Michael as I had a postman saying that he would lose his job in bankruptcy.
I wonder if this really is the case ?
Regards

I can possibly understand re the milkman, as part of a milkman's job is to collect the money from his customers so he may be viewed as a risk if he has financial problems. Thinking about it, we every so often see stories of posties not delivering mail and keeping the cash sent in cards, giros, credit cards etc so I wonder if the same applies to them also?

Just a thought.

Regards.

The irony is that bankruptcy removes the financial pressures and a bankrupt would find the cash less of a temptation than someone with severe financial troubles that they are trying to hide.

As an aside I believe that professional golfers cannot go bankrupt as they would lose their PGA status and these people are self employed. I have done a number of IVAs for professional golfers [although you would never have heard of any of them] and I do not think that Tiger Woods needs one.

I am not a postman, milkman or golfer!! I work for a construction company

Unless there is anything specific in your contract of employment, then I would think you would be ok, but it would be worthwhile checking with your HR department, perhaps anonymously?

I am in the same uncertain position. I am a public servant /important position. I would think the logic is that if you are responsible for finances and could be tempted or could be bribed, then the company would want to know. I think this was the logic behind the police /armed services etc. Nowadays a lot different . I have checked and rechecked re my policies and contracts = nothing. I think it would be very difficult to check with HR., anon., as they always want to know who is ringing and why.

I only think Civil Servants might have problems - otherwise it should be contained in employees employment contracts.

Hi
If it is not in the terms and conditions of your employment then there is nothing that your employer can do about it. Also unless your employer does a regular credit check or trawl the insolvency register then they will not even be aware of your IVA
Regards

hi

the situation for civil servents is covered in the civil service Civil Service Management Code - 4. Conduct and Discipline which is available on the internet. i posted a link to this on 5th of march. this will save any civil servent from having to contact the hr department. You should also be able to check you local policy on your internal intranet. I work in a very important position but it has not caused me any problems as i was up front with them. Your line management also have a duty of care to you and will only notify people that really need to know, only my imedate manager and the security clearance section know about my situation.

I hope this helps

My employers are not aware of my IVA and I have been in it almost a year.

In a big firm, I really can't see anyone trawling through the register looking for names.