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Posted: Sat Oct 25, 2014 7:22 pm
by Floyd.k
70% of my debt is with my employer (big bank) HR have said IVA ok. Does anyone have any experience of this? Very worried
Posted: Sat Oct 25, 2014 8:11 pm
by Adam Davies
Hi and welcome
If HR have said it will be ok then that is a big step in the right direction, I would however look to get conformation by email or letter
Speak with an experienced Insolvency Practitioner about your case as your employer [creditor] will have the option to reject any IVA proposal as they hold more than 25% of your debt
Regards
Posted: Mon Oct 27, 2014 10:09 pm
by nelly74
Yes and it was ok but only 5% of debt was with employer. Have strict reviews every 3 months but nothing to hide anymore so all ok. I do not have access to client funds in my role though. Good luck.
Posted: Tue Oct 28, 2014 8:35 am
by Shining
Hi and welcome, good luck with your IVA and hoping your employer stays to their word. As Andy says get it in writing even and e-mail is a good reassurance.
Posted: Thu Oct 30, 2014 2:33 pm
by Michael Peoples
This is not uncommon and most banks are supportive. Speaking to HR was the correct thing to do.