www.iva.co.uk

Hi, I've recently been offered a job as an accounts payable assistant at an electricity firm. I have been in an IVA for 4 and half years. My IVA will be completed in February 2021. I was very exited and I signed the contract without reading it properly and after that I realise there was a clause that states the following:
“The Company may, without notice or payment in lieu of notice and with no liability to make any further payment to you (other than in respect of amounts accrued due at the date of termination), terminate your employment if:
…
• You are declared bankrupt or make any arrangement with or for the benefit of your creditor s or has a county court administration order made against you under the County Court Act 1984”

I don’t know what to do. That this means that I cannot do the job. During the application process I was never asked this question. Only now, after reading my contract I’ve noticed it. I have kept the terms of my IVA and have been paying every month but I'm so concerned that I will leave my current job and then this new job will fall through because of my IVA. Do you know if you are able to work in practice with an IVA?

There are people in IVAs who do work in the financial sector or in a financial role. Often they are on curtailed duties, with no cash handling, but this is up to the employer.

Unfortunately, I would read that clause as that you have to inform the employer and they will then decide. An IVA, whilst not a bankruptcy, or CCAO, is an 'arrangement with or for the benefit of your creditors'.

As heartbreaking as it might be, it is better to sort it out now, rather than risk it coming to light and then losing the job later.

Thank you for your reply.
Do you think that I have a chance of keeping the job after that?

Fri May 08, 2020 1:19 pmcarolina wrote:

Thank you for your reply.
Do you think that I have a chance of keeping the job after that?

It will depend on the employer. We have had members working in banks in IVA's with no issue, so, assuming the company is sympathetic to the fact that you had problems, recognised those problems and have addressed them, you may be OK. After all, having addressed the issue, you are a far lower risk than an employee about to 'go under' !

You could try an anonymous call to HR.

Thank you you have very helpful.
I will speak to them and hopefully everything will be ok.

Best of luck. I hope it works out for you.