Redundant & Struggling To Pay Advice Needed :(

vicxzy

Hi,

I recently got made redundant (Aug) & really struggling to find a job after 12 years working for the same employer.
I'm being chased by credit card companies but as I have applied for a job with the police I don't feel I can make official arrangements to pay these back as the police state they won't consider applicants with IVAs.
Is this the same thing? Im so confused! I need to stop these phone calls as they are really getting me down but at the same time I dont want to jeopardise any chances I have of getting the police job I am being interviewed for in a couple of weeks.
Please help-advice pls!!!!!! x

ajaney

Hi

Sorry to hear of your situation

An IVA or Individual Voluntary Arrangement is a long way down the line yet.

I would consider writing to each of the companies stating your current difficulties but offering token payments for a period of 3 months while you find new employment.

More advice will follow from experienced members soon

Karmacat

Hello vicxzy

Sorry to hear about this. I'm not sure of the detail, but there's DMPsas well as IVAs. If I were you, I'd check with CAB, the Citizens Advice Bureau, then tell the credit card companies in writing that you *only* want to communicate in writing from now on, and are trying to arrange payments to them, that you'll be in touch shortly with more details. And maybe, in the meantime, would they consider freezing your interest payments?

This isn't something I've done, so I'm not sure of it, its just what I've gleaned over the months from this site. So do check with CAB first. To find more info on this forum, use the search tool at the top-ish right of the page - you can search for individual posts or whole threads.

Sorry I can't be more specific, hopefully somebody will be along soon with more knowledge. But you've definitely come to the right place.

All the best.

SunderlandBlackCat

Hi Vicxzy

It's a tricky one & while I don't know how having debt issues would be dealt with for someone just applying I am ex-military & have also worked in security cleared civilian jobs for government departments & have seen how its dealt with for people who are already in a job when they have debt issues.

Generally people who've come up with a realistic plan on how they intend to tackle the debts & come forward voluntarily have been dealt with quite well but people who've tried to hide it have usually been dealt with harshly.

What they are basically concerned about is someone using your situation to gain leverage over you by either blackmail or bribery. This is far easier to do if someone is hiding their issues.

I'd contact one of the non-profits debt counsellors here > http://www.moneysavingexpert.com/loans/debt-help-plan#help.

They can help you come up with a plan to deal with your debts. They will need you to complete a statement of affairs so you might as well do it in advance using the template here > http://www.makesenseofcards.com/soacalc.html

If you post up the results on here we will be able to take a look & offer up some suggestions.

Good Luck

vicxzy

Thanks for your replies.It's only 2 credit cards I am trying to make arrangements on- the rest I can still afford to pay at the moment.I have called them and explained the situation again yesterday and they have said they will send out a proposal form for me to write down which benefits etc I am receiving (none!) and how how much I can afford to pay back per month. I have explained it is only temporary as I willbe receiving a severence payment at the end of Jan. Just worried how this will show up on my credit file if I make arrangements with the card companies to pay back a lower amount? I missed last months payment so far and wont be able to pay this months either although when my severence comes through I will clear the balences in full? Thank you.

Karmacat

The missing payments might be more of a problem, actually - arrangements are just that, between consenting parties.... the suggestion of an soa is a good idea for the longer term, you'd be surprised at what you can cut down on. You can see from the number of my posts, for instance, that I've been on here for a long time now, regularly - but I've just revamped my utility bills, which have gone down by about £40 a *month* as a result.

I'd urge you to do the soa, but even more to tell the companies whose payments you've missed, and are about to miss, about your situation. There's a couple of other boards on here where you might also post to get advice - looking at the list, "budgetting and current accounts" come to mind, but check out as much as you can, and think seriously about reducing your outgoings - you might have to cut down on activities, but you might not, the £40 I've saved is from altering the way I'm supplied, thats all.

Good luck - and keep on posting.

MrsTinks

Well it will show as missed payments on your credit rating. Your credit rating will have dropped and will drop further until you can afford the full payments again.
As already mentioned the importance is that you are honest with the police about your financial situation. Lying about it could mean dismissal later down the line. I'd say in most cases they'd not really worry about it - the thing they are worried about is the blackmail issue - my DH had to get high level security clearance some time ago and the form included questions about our sexual preferences as well as financial details. EVERYTHING someone can think of to use against you as blackmail We did think of making up a few things to make us sound more interesting in the bedroom but thought they might guess LOL In all honesty they don't care if you are into weird stuff - they just want to know so you can't be blackmailed about it and therefor pose a security risk

vicxzy

Thanks guys.At the min all they have asked me is if I have ever been subject to an IVA? Thinks that is as far as it goes with civilian jobs? Is me making an arrangement with my creditors the same as an IVA? Thank you x

vicxzy

sorry above should say IVA or CCJ I put no because I dont think I have am I right? Thanks x

MrsTinks

No you haven't - an IVA ia a legally binding agreement between you and your creditors. A CCJ is a county court judgement.
You could enter a Debt Management Plan and still not techncially be in breach

vicxzy

Brilliant thank you! x:D