Been lurking for a while, everyone here seems friendly and helpful so I thought I would post.
Got myself in a mess, got an interview with CCCS next week to discuss my options. But what is absolutely freaking me out is that one of the credit card debts is with Halifax and I work for the group. If go down the IVA route I am so, so, scared of losing my job. I am going to tell my manager tomorrow, eek! Another sleepless night!!
We are a friendly bunch and hopefully helpful espeically our professional posters who give their time and expert knowledge for nothing.
All the best with speaking with your Manager, I hope it won't come to you losing your job. Someone in a same/similar situation may be along later to advise. xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
This is probably a good time to talk to your manager informally about your options- much better than waiting until you've chosen the way forward and can't change your mind.
The HR department might be more helpful, but it's good to have your manager on your side.
Hope everything goes ok with your manager tomorrow.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi, HOLD ON!!! Before speaking to your manager, look at your contract and any Halifax or Group policies relating to staff conduct or personal finacial affairs. Be very sure of your company's policy and contractual obligations. The wider question of being in financial difficulty may be serious in itself. In my bank the policy on personal financial conduct can lead to disciplinary or make a job untenable depending on what role you are in eg are you providing finacial advice or managing accounts? It would be a shame to raise these difficult issues before speaking to the cccs who may even suggest a dmp etc. Also, Cccs may be able to advise as to whether you can keep the Halifax c/card out of an iva...the other creditors may accept this as including hbos may compromise your ability to pay anything back. If allowed, the Halifax repayments would be included in your expenditre and so become affordable. I have two student loans which were not included because they would not approve the UVA and so the remaining creditors would be disadvantaged - theoretically all debt should be included but in reality some can be left out with everyones agreement. My own job situation: I was already in an UVA when the policy on personal financial conduct was introduced and it did not require retrospective confessions so I kept quiet.
Overal, know your contractual position, speak to cccs and only speak to your employer if you have to. Who can afford ethics?
Hi, just read my post to you and sorry I wasn't more reassuring and supportive. I have been in your position and know that getting everything out in then open seems so cathartic and that it's difficult to know who to turn to for advice. Good luck and completely ignore my advice re concealment if it feels wrong. Not a week goes past when I don't worry about being found out, equally I wasn't in a position to take a risk. Speaking to your manager about your Halifax card soonest is definitely advisable and only you can judge when the best time will be to mention your wider problem. Can you sell holiday back to the bank to offset the debt? Maybe also take advice on whether Halifax can take anything from your salary. Good luck with whatever you decide and let us all know how you get on. I'm rooting for you !!
Hi, just thought i'd echo something mentioned above - if u dont actually give financial advise to customers ( i.e ur not a financial advisor/mortgage advisor or account manager) then its quite possible you'd be ok. I work for a major bank and it is for this reason my husband had to do a sole IVA so definately dont deay speaking to your manager. The more upfront you are with them, the more they'll be able to help.
My role in the bank is more of a mundane backroom admin job and I do not give financial advice to customers. I'm just hoping this is going to be enough.
I've decided to be upfront and explain my situation to my employer. I'm also hoping that because I haven't missed a payment (just struggling to make them, my wages do not cover my overdraft) and my mortgage who is also with the Halifax is up to date will help me somewhat.
Good luck. You have made the decision to address your debts and you are being open and honest with your employer. You would like to think that the fact you are not hiding anything should stand you in good stead.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
I personally feel that it is a good idea to discuss this with your Manager on a confidential basis first. Let's hope they maintain a sensible position with regard to your current difficulties.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I spoke to my Manager yesterday, who was brilliant and sympathetic to my financial mess. She spoke to HR on my behalf and advised an IVA against Halfax, who is one of my creditors, would not cost me my job. the reason being that my role within the bank does not pose a risk, ie I do not deal with customer's accounts, offer financial advice or am I in a position where I may be tempted to resolve my financial problems illegally. Result No 1.
Furthermore, my Manager advised that a colleague had approached her, some time ago who was also in a financial pickle. Only when we had both agreed independently were our identities revealed to each other only. I know this person very well and we had a good chat about our experiences, it helped enormously. Result No 2.
I will be discussing an IVA with CCCS tomorrow following my initial interview today. I now feel I am starting to take positive action in gaining control.
Maybe I should start a blog? Anyway, I hope my experience so far will be of help to someone. I know this has been said here hundreds of times, but if you feel there is no way out, please, please speak up you will be surprised at the help, support and advice you will receive. No one wants to see you go under.
