Is your employer told ?

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lindseyh

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Post by lindseyh » Wed Aug 06, 2008 12:08 am
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If you go down the IVA route. Is your employer told ?
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Viki.W

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Post by Viki.W » Wed Aug 06, 2008 12:32 am
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Hey Lindseyh, welcome to the forum. There would be no need for your employer to be told.
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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kallis3

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Post by kallis3 » Wed Aug 06, 2008 6:38 am
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Hi Lindsyh and welcome from me too.

I agree with Viki. My employer has no idea I am in an IVA, and I have no intention of them finding out.
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
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moretolife

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Post by moretolife » Wed Aug 06, 2008 8:35 am
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welcome....as far as we know no-one has tole our employers...
i wouldnt worry.....maybe experts have a different idea??
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy

Visit my blog...Journey from Debt to Life Post IVA
http://moretolife.blogs.iva.co.uk
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MelanieGiles

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Post by MelanieGiles » Wed Aug 06, 2008 10:46 am
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The other posters are correct - there is no need for an employer to be advised of an IVA unless they are a creditor.
Regards, Melanie Giles, Insolvency Practitioner
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maizie

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Post by maizie » Wed Aug 06, 2008 10:55 am
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What about in bankruptcy?
Life is far too stressful!!
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chris.g

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Post by chris.g » Wed Aug 06, 2008 10:59 am
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tax codes change to br or nil so there's the possibility, especially if you work for a smallish company
It's nice to be back......
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maizie

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Post by maizie » Wed Aug 06, 2008 11:28 am
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I know about the tax code but I also know there are many reasons why someone would be given a nil tax code. Would the OR notify my employer of my bankruptcy in any case?
Life is far too stressful!!
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MelanieGiles

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Post by MelanieGiles » Wed Aug 06, 2008 1:06 pm
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No - there would be no need for the OR to notify your employer specifically about the bankrutpcy, but of course your payroll department would be advised of the nil tax code.
Regards, Melanie Giles, Insolvency Practitioner
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hillsy

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Post by hillsy » Wed Aug 06, 2008 1:19 pm
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Hi,
Just curious what does nil tax code mean, do you not have to pay tax, sorry to sound thick do not no about this one
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MelanieGiles

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Post by MelanieGiles » Wed Aug 06, 2008 2:40 pm
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It means that you will pay no tax during the year you are made bankrupt until the end of the tax year - 5 April. But the equivalent that you would have paid to HMRC then has to be paid over to the Official Receiver for the benefit of your creditors.
Regards, Melanie Giles, Insolvency Practitioner
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hillsy

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Post by hillsy » Wed Aug 06, 2008 2:47 pm
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Thanks Melanie, that is interesting did not know that, what other contributions do you have to make in bankruptcy.
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MelanieGiles

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Post by MelanieGiles » Wed Aug 06, 2008 3:07 pm
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In terms of what? Sorry I don't undertand the question.
Regards, Melanie Giles, Insolvency Practitioner
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hillsy

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Post by hillsy » Wed Aug 06, 2008 3:12 pm
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Sorry! do you have to make any contribuitons throughtout your bankruptcy out of your income,
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Viki.W

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Post by Viki.W » Wed Aug 06, 2008 3:24 pm
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Hey Hillsy, have a look at Skippy's blog, she has put in a guideline table so you can see what you MIGHT have to pay. It's usually for three years.
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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