Work injuries and marital issues are sources of financial difficulty. Police offers are especially exposed to such issues. Bad money management and bad luck can also lead to financial troubles.
You have access to major debt solutions, but disclosure obligations exist. Disclosure may be essential to maintain continued employment. To prevent matters from getting worse, you should act promptly.
We’ve assisted many police officers to address their debts. Many officers enter debt solutions, including trust deeds. Our senior adviser has met with Welfare and Police Federation reps in the past.
It’s important to act promptly.
A debt adviser will check on your financial status. They’ll discuss your debts and assets. They’ll ask about your salary and bills.
These details help to identify suitable debt solutions. The options get explained to you. The adviser explains the advantages and drawbacks of each.
Our experienced advisers can assist you with this. Please contact us to access expert advice.
Because your work is sensitive, your employer acts to control risk. When officers struggle with debt, police services face two significant risks.
They fear you may become vulnerable financially. They’re concerned about an increased exposure to corruption. When an employer knows you’re struggling with debt, this risk is reduced. When you act to deal with your debts, this risk is further reduced.
They fear the quality of your work may decline. Debt problems cause distraction and stress. Debt problems can damage your physical and mental wellbeing. Putting support in place for you minimises this risk. Putting a suitable debt solution in place further minimises the risk.
Tackling a debt problem is beneficial for you and your employer.
Plans to enter personal insolvency processes require disclosure. Trust deeds and bankruptcy are forms of personal insolvency.
Legal debt recovery actions require disclosure. This might include a Decree, for example.
Some police forces publish “disclosable debt procedures”. They’re not all the same. You can read the procedure for North Wales Police online for example. We cannot locate a Police Scotland disclosable debt procedure online. It may be available to you internally.
Disclosable matters usually include:
• Can’t afford to repay your debts from income
• Bankruptcy (sequestration)
• Trust deed
• Debt arrangement scheme (DAS)
• Debt management plan
If any of these apply to you, disclosure may be necessary. Disclosure would usually be made to Professional Standards. You demonstrate integrity and honesty by making a disclosure. Non-disclosure might create disciplinary risks.
Visit our home page for a list of debt solution that maybe beneficial for you.
We’ve helped many policemen and policewomen over the past decade. Our debt advice team has helped them to put money worries behind them.
You may be feeling a little embarrassed or anxious. Our advice team is friendly and sympathetic. All discussions are fully confidential.
Please get in touch today. We’ll help you to make things better.