www.iva.co.uk

I have been panicking about this now for days and finally I have been able to register on here. Registration emails didn't seem to be sending for weeks.

I have currently signed a Proposal and have sent off to my IP - creditor meeting date set. I have no complaints about my chosen IP to date but one thing is still concerning me. I work for a financial institution in a support role, I am not client facing or creditor facing. However, in my employment contract it refers to senior management able to terminate without notice ' on being made aware that you have become bankrupt or made any arrangement or composition with or for the benefit of your creditors generally' This Ts and Cs document is generic for everyone regardless of actual role and/or level.

I advised my IP of the above and they told me not to worry as my employer should not find out and normally it is only a concern if I am regularly credit checked. I am not credit checked. I am not an accountant, nor do I hold or ever wish to hold accountancy qualifications.

I have kids, I am trying to do what is right to pay back as much as I can pence in the pound to my creditors. But if I get into an IVA and then lose my job I do not want to be even thinking about what could happen then. Please can anyone offer me some advice? I guess I should perhaps trust my IP as no doubt others have been in the same situation.

Also one final thing I want to add, my employer and my IP will be dealing with creditors, so, for example the Insolvency Exchange will communicate with both my employer for other business and my IP. Am I correct that even if people know each other throughout TIX and various IP companies that client confidentially keeps any of my IVA details being shared?

I am sorry to bump this up but I haven't slept for days for the worry. Grateful for any comments anyone may have. Thank you.

Hi, as your IP said, your employer should not find out unless they credit check you, or accidentally find you on the Insolvency Register. I strongly doubt TIX or any other creditor would make the connection and speak to your employer either (and, as you say, this would be a breach of confidentiality if they did).

We have done IVAs for people who work in banks and it has not been a problem. It may be worth speaking to the union of your line manager to be sure you are not affected. TiX will not inform your employer but it may be a condition of your employment that you have to do so.

Thanks both for the feedback. Feel a bit better already.

Hi, I was working for a bank when I started mine.
Dealing with customer's money and with financial reward for sales targets. I was honest with my manager upfront and it was fine. A know a few colleagues of mine also went down the IVA path.

Whilst in my IVA I had a job interview for a mutual insurance company I told them before interview and again at interview and they offered me the job.

Best of luck