Getting a job with an IVA in finance sector

sezmac21

My husband currently works on a temporary contract for a bank, he processed ppi claims.

We are in big finanancial difficulties due to him being out of work and me on maternity. We have looked into both debt management plan and iva. But we are worried he may loose his job if we go for the iva option. He is fightened to ask as he feels they may sack him or not renew his contract. Debt management plan will take us 14 and half years to become debt free.......

Do you have any advice on if it is likely he will loose his job?

Thanks

oplus

Depends on the company, who is it?

sezmac21

barclays thanks

oplus

Is he directly contracted to Barclays or is he sub contracted?

Did they do a credit check before he got the contract?

sezmac21

He thinks he is employed by the barclays as he gets paid via barclays temparary staff pay roll dept and not the agency he first got placed with. He also had his contract extended once and that was via barclays too. He did undergo a credit check before he got the job.

oplus

Then it all depends upon his contract.

If it is possible to PM me a copy I'll have a read.

Even then it depends how long his contract is meant to last and how often they do a credit check. Many banks are connected to the three reference agencies which throw up defaults, BR and IVA flags automatically.

If a full time employee has say a default thrown up the member of staff may be asked to leave, it depends upon the policy of the bank and the role, a cleaner wouldn't have a problem obviously but anyone handling cash or making redress payments would have problems.

If I were you I would do a DMP and make sure your don't have any defaults, then see how well you are doing. Most PPI contractors are being paid up to £250 a day which is lot of money to give up.