EffectOne
7th Jul 2022, 16:22
Hi all,
I haven't been to these forums for ages and I swear there used to be airline specific forums but I can't seem to navigate anymore with what appears to be a new layout(!). Apologies if this is completely the wrong place for this question.
I'm an SO with EZJ with a BBVA loan. But for the pandemic, I would have been promoted to FO in March this year with an increase in base pay & sector pay. As we know, promotions are hours dependent and so that didn't happen (and likely won't for another 12 months). The loan with BBVA through the old EZJ bond scheme is structured in a way that your monthly payments increase by around £500 per month after two years to coincide with your promotion to FO. As a result, from the end of next month I will not be getting any additional pay but the bank will expect an additional £500 from me. The bank is not obligated to do anything to help me because the loan and employment contracts are legally separate. Not a great situation to be in. Legally, this is a "hard luck and tough s**t" situation.
Has anyone else found themselves in this situation? Was the bank receptive to extending the term of the loan to keep repayments the same until you get a promotion?
Thanks.
I haven't been to these forums for ages and I swear there used to be airline specific forums but I can't seem to navigate anymore with what appears to be a new layout(!). Apologies if this is completely the wrong place for this question.
I'm an SO with EZJ with a BBVA loan. But for the pandemic, I would have been promoted to FO in March this year with an increase in base pay & sector pay. As we know, promotions are hours dependent and so that didn't happen (and likely won't for another 12 months). The loan with BBVA through the old EZJ bond scheme is structured in a way that your monthly payments increase by around £500 per month after two years to coincide with your promotion to FO. As a result, from the end of next month I will not be getting any additional pay but the bank will expect an additional £500 from me. The bank is not obligated to do anything to help me because the loan and employment contracts are legally separate. Not a great situation to be in. Legally, this is a "hard luck and tough s**t" situation.
Has anyone else found themselves in this situation? Was the bank receptive to extending the term of the loan to keep repayments the same until you get a promotion?
Thanks.