DAS & Work for Bank - is this allowed?

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Hi,

Been struggling with a large sum of debt for some time now £28k including all credit cards, overdrafts and unsecured loans. I have a property current LTV 77% approx £20k equity that I own. Debt consolidation not really an option because of LTV too high to allow me to borrow much.

I have a decent salary £23k + bonus £4k approx per year gross and am just managing by at the moment. I can only pay minimum payments on credit cards but loans mortgage etc etc all fully up to date. Experian has my score at 999 but with my unsecured debt at this level I am not really making any headway with it at all. Yes the loan and mortgage are being paid off but its the credit cards doing all the damage. A number of them have written to me recently increasing the APR which was the last thing I needed.

Anyways I have read about the DAS scheme in Scotland and on the face of it I think it could work for me in that if my interest was frozen I could commit to a reasonable chunk of my salary to go towards paying off the actual debt. However my dilemma is that I work for a bank - although not an FSA licenced position - I don't provide any advice to customers. Its very rarely discussed at work what happens in these situations, my employer would definately find out as I have staff credit card, loan and mortgage. I would hate to think signing up for this I would alert my employer to financial problems and lose my job and end up in a worse position. I would be grateful to hear from anyone who has an idea of what is best to do.

Many Thanks,

Comments

  • battlestarone
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    i am no expert on this,but i dont htink they could sack you for this,they lent the money and did all the credit checks and gave you the green light,,,,dod you have a union rep on site or someone you can talk to,maybe talk to a lawyer via your local cab office,if they did try to dismis you over the i reckon you would have a case against them for unfair dismisale,,,,get advise,,,the longer you leave it the longer it will go on,,,at least you are doing something about it and will be dept free at some point.
  • mtgg
    mtgg Posts: 18 Forumite
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    Hi

    My husband & I have just completed our IVE, just awaiting our completion cert.
    We had £86k in unsecured debt. I work for a large uk building society and have a staff mortgage, I work with within the a mortgage department.
    I did not tell my emps and they have never approached me with regard to my IVA. I know my IP does send a statement each year to all involved & all secured lenders you have a mortgage or any secured lending with.:eek:

    But, this was just linked to a staff mortgage and not a staff loan or cc. Could you call your staff union without giving them your staff details & see what your options could be?:idea:
    Hope all goes ok & i promise there are people that can help!
    Take care
    xxx:xmastree:
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