Employment screening

freshstart2023

I am currently in employment but am worried that if I enter a DMP it will cause problems with the in employment annual screening. Is this something that would show up? Thanks 

Brie

It depends on what the job is and whether the employer cares.  Accountancy, finance, regulated role - yes they might care.  Lots of office jobs, working for a plumbing firm - no they probably won't.

Are you sure a DMP is the right thing for you??  Have you talked to a debt adviser???

freshstart2023

Yes I work in finance unfortunately. Yes I believe it’s the right thing for me, I’m drowning. Obviously Can’t affoard to lose my job though 

Grumpelstiltskin

Right who has given you advice that a DMP is ideal at this point in time?

Have you spoken to one of the debt charities?

freshstart2023

I’ve spoken to stepchange. Do you think there would be a better option? 

Grumpelstiltskin

You could make arrangements yourself without going through a charity.

The answer is it all depends, is there anything in your employment contract about debt?

Before we can give you the best advice we need more information.

Fill in your SOA and that will give us the information we need.

https://www.lemonfool.co.uk/financecalculators/soa.php

Format it for MSE and make sure it is correct.

backinbusiness

Don't rush into a DMP OP - wait for the good guys (and gals) on here to give you some sound advice first.  It may be right for you, or it may be a mistake.  There is a preferred way to go about this.  Good luck.  BiB x 

freshstart2023

Thanks all, I will work on a SOA this evening after work. I have checked the policy for annual screening and it doesn’t say anything about debt but we are asked to declare if we have entered into a debt management plan. Perhaps a silly question but if I opted not to go through a charity and and contacted credits individually myself to make affordable monthly repayments, would this still count as me entering into a debt management plan and therefore be something I would need to declare? Thankyou 

sourcrates

freshstart2023 said:

Thanks all, I will work on a SOA this evening after work. I have checked the policy for annual screening and it doesn’t say anything about debt but we are asked to declare if we have entered into a debt management plan. Perhaps a silly question but if I opted not to go through a charity and and contacted credits individually myself to make affordable monthly repayments, would this still count as me entering into a debt management plan and therefore be something I would need to declare? Thankyou 

That would be an arrangement to pay, different to debt management only in name, and how its recorded on your credit file.

Basically anything other than full contractual repayment could result in late payment markers/defaults or AP markers, there is no getting around it unfortunately.

Making short term arrangements with creditors is OK, but anything that lasts longer than 6 months will result in them referring you to one of the debt charities, as creditors don`t like to deal with bad debt arrangements for very long.

We can comment further once we see the SOA, it can be quite difficult when your job is debt dependant.