worried that my employment could be terminated

[helenk]

i am considering an IVA but am worried as i work for one of the high street banks.Yes i should know better,as i'm an advisor at the bank and some of my debts are with my employer i am worried that my employment could be terminated.I have contacted HR but they weren't able to give me a definite answer.

[MelanieGiles]

Read your contract of employment - if there are no conditions relating to insolvency you should be OK. Do you have to sign an annual declaration of solvency for your employers - this is quite usual for bank employees. If so, you will have to declare your financial position.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[iva experts]

Welcome to the Forum Helen,

I would definitely check your terms and conditions of employment, if this specifically states that you cannot declare yourself insolvent then yes, your position is at jeopardy.

Best of Luck and please continue to post your outcome.


Best Regards. IVA Experts

[iva_squirrel]

Hi helenk,

Being in an IVA will not necessarily prevent you from working in a bank. The only way to discover whether you will be able to continue your employment would be for you to contact the HR department or read the terms and conditions of your contract.

Regards,
Michelle P.

[helenk]

Thanks for your advise, I have contacted HR and if I decide to proceed with IVA then I need declare it to my line manager who will do a risk assessment and make every effort to preserve my confidentiality! Difficult in a small office.He/She will liase with HR.It Seems it would only be an issue if i was Regulated by FSA which i'm not.

[douglass]

Hi Helenk, I am in a similar situation - my line manager has agreed I can keep my job, as I am not required to be FSA regulated. Keep your chin up. Fingers crossed for you.