Advice needed Please re Job & debts

rockbottom2

Hi
I've been in the same job since 2000 and the company was taken over by a bank,
I've got myself in debt & currently working with payplan to help me sort it out (wish I had known about them many years ago!!)
My main problem is my employer takes any form of debt, IVA and bankcrupty as gross misconduct and instant dismissal.
Payplan advised ,e to call HR- but it's automated & you have to use employee number so therefore ot's traceable.
Any help or advice would be greatly appreciated as if I lose my job the situation gets a whole lot worse!!!
Thanks

RenB21

Hi, if it were me, I would try and speak to them sooner, rather than later.

I was really worried about the same situation, I was issued with new contracts for some other changes, and on reading it found that if I entered into any voluntary agreements, it was a cause for them to terminate my contract. I worried for a few days and then couldn't bear it any more and spoke to HR, and they were fine. Didn't even mark anything on my file.

I would say that I don't work for a bank, but it is still in my contract, but there were no issues at my place.

Personally I don't see why it would make any difference if you're on a DMP/payment plan with your job - other than that if you were out of a job you'd be worse off - so a stupid clause I think.

I wish you luck, hopefully someone else will have more relevant experience on this, to help you more.

rockbottom2

Hi
My job isn't in a bank the only connection is that the parent company also own banks, so tie it all in one.
The have loads of info re help with debt etc, but then turn around and basically say we'll give you the advice then we'll fire you.
I have explained my situation to payplan, but just worried that I maybe restricting my options to solutions.

Deep_In_Debt

I would speak to them. I work in the Financial Services industry and my job is regulated by the FSA. When I entered into a debt management plan I rang my HR department to check and they said they weren't bothered as long as I could do my job, which after 12 years, I'd proven I could, then they didn't really care.

Bismarck

Sounds ridiculous.

If you did something that impacted on your job then fair enough re gross misconduct but if you are employed and keep doing the job that you're paid to do well then what's the problem?

I also don't see how they should know about your personal finances unless it comes up in a new job application where a CCJ/IVA/BR may be relevant...

Imagine scenario where you are happily working away and something happens domestically where you're suddenly landed with a substantial debt that led to a CCJ/IVA etc....is that grounds for dismissal in itself? ~ I would like to see them try and justify that at a tribunal.

rockbottom2

They do employee credit checks, where if anything comes up, your team leader (who could be one of many) is supposed to discuss it with you.
Which I don't find a comforting idea as the team leaders change on a regular basis, so there's an element of trust that you could hae with one, but not another.
I checked on the HR pages and it states clearly it's policy- but I don't actually handle any cash etc & anything I do has to be authorised by team leaders & higher.
I think I will take the bull by the horns and speak to the them & hope that common sense comes into play, but no confident as the experiences of Hr so far is pretty bad- can't do a thing without employee number & then each person you speak to you have to retell the whole story.
Thanks for your advice- does the FSA have any problems etc with this type of situation & we may be getting sold again.

oscar52

MBNA and M&S Money have the same condition in their contracts of employment - if you enter any type of arrangement that reduces the amount aid to creditors, it will end up with the loss of your job.

The basic reasoning they give is that if you cant control your own finances, then how can you advise other people how to conduct theirs.

Bismarck

hmmm....

Oscar,I can understand that if you're wanting to be a financial adviser but don't you advise what the options are on the cards/accounts the customer has? i.e. Not on what they should spend their money or not....isn't your advice product-related rather than advising people about their best options?

Also, does that mean you can't go on a DMP either or are you OK as long as you pay the full amount off?

Rockbottom, when they do credit checks, is it not the case that they'll simply be looking for CCJs / IVAs & BRs - not at what you owe/how much you're paying.....

is there a union rep you can talk to about this or have you exhausted that option already?

rockbottom2

We don't have a union and as I said I work in a call centre, so don't physically handle any money & I'm not advising re any products etc as not in bank- just basically in claims reporting & not high enough to have any authority re payments etc.
As I said when I started it was a normal insurance comp, which then been taken over by a bank, who are now looking to sell it- so my basic job is the same- I have nothing to do with sales etc

oscar52

Bismarck,

I'm not going down the route of a financial advisor, just that I happen to work Credit card industry. I can see your point in what you say, but look at it another way.

many people phone up their CC companys with regards to interest rate increases etc - they wouldnt have to do this if they hadnt spent all the money available (this is not a dig at anyone, just a fact) - How could I tell someone I cant reduce their interest, and then go to one of my creditors as I am in the same situation - Wouldnt that make me a hypocrite?

As for a DMP - this again is a no go area for the same reasons of job loss.

rockbottom2

As I said, I DON'T advise anyone re money- just take their claims for car insurance- so how can I be a hypocrite?
I am well aware that this situation is of my own making- but surely if I am wanting to pay it rather than ignore it should work in my favour? also if credit card comps etc were more approachable & 'human', alot more people would be able to go to them before situations got to the no way out stage!!!