Will I be able to keep my job if my IVA failed and I was made bankrupt? I work for a county council as a social worker.
Also is a debt management plan still an option if the IVA fails or does the IP automamtically petition for bankrupcy?
A DMP is an option if an IVA fails, and unless you have it specifically written into your IVA, your IP won't petition for bankruptcy.
As regards your job, check on your contract of employment or intranet to see if it says anything about it, or make an anonymous call to HR.
Personally I think you should be ok, but make a check.
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
Your IP may be required to call a meeting of creditors to see if they wish you to be made bankrupt. These days, this is pretty unlikely.
If your IVA fails, and you are not made bankrupt, there is nothing to stop you offering a DMP to your creditors, but try and work with the IVA - perhaps get the payments reduced if you are struggling - as an IVA has many advantages over a DMP in the long run.
