IVA = Bad Credit = Job Applications Refused!!!!

BigBaldTone · Joined: 04 Jan 2007 Posts: 5

I was looking into the possibility of ending my IVA early and posed various questions with regards to how this may be achieved at the beginning of this year. Since then I’ve recently changed the actual amount repaid each month, and this has been in effect for a couple of months now.

However, for the last few months I’ve been trying to change my current job situation and due to the nature of the business I’m in, have been refused a number of VERY financially rewarding positions due to me failing a credit check (due to being in an IVA).

This in itself is a catch-22 situation, as with a better paid job I would be in a position to clear this earlier, but cannot get a job due to the situation I am in with regards to my bad credit rating.
I really do need to give this some serious thought, as the affect it is having in my vocational life is not only frustrating but I’m also finding it increasingly difficult at well. Although I’ve recently had a variation to the IVA accepted, I really do need to see if I can end it early, and then be in a position to clear my bad credit record.

I’m really getting to my wits end with regards to this and the detrimental effect this is now having on my personal and professional life.

I'm in an IVA with you guys, and have sent an email to the consultant dealing with my case - but wanted to put my thoughts into the open, to see if anyone else has come across this situation themselves?

John · Posted: Tue Aug 21, 2007 9:56 am Post subject:

Hello.

In certain professions and in certain industries it is essential for an organisation to run credit checks on individuals who are applying for jobs with them, Similarly, it is necessary for background checks to be carried out on people who work in the policing authorities, social services and community-based roles, including teachers and NHS staff.

With this in mind, you may understand why a business (in the financial sector or not) may protect its own interests (and interests of its customers) by refusing candidates a career opportunity based upon their financial status.

If you are in an IVA, your creditors have a duty to inform the major Credit Reference agencies that you are insolvent. This information is a matter of public record for some time. Once an IVA has been fully implemented, the Credit Reference agencies will then be informed that you have no outstanding liabilities and you start your credit record again from scratch.

Clients of ClearDebt who have failed a credit check with a prospective employer may request a reference from the Supervisor. Providing the IVA has been fully adhered to, this reference may be suffice for employment to proceed, but this would be at the discretion of the employer.

If you have had funds available and the dividend to creditors was realistic then your Supervisor may (at his discretion) propose this for you. If the dividend is likely to drop substantially, creditors are most likely to reject the variation, with a view of you fully completing your IVA at the appropriate dividend.

I hope this information makes sense.