Am I right in saying you are not allowed credit in a normal IVA ?

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
 
 

gambler

User avatar
Posts: 10
Joined: Thu Dec 16, 2010 6:37 pm
Location:

Post by gambler » Fri Aug 05, 2011 7:07 pm
My reason for asking about applying for credit with a f&f iva was from a legal angle. Am I right in saying with a normal iva you are not allowed to apply for credit? And if that is right is it the same for a f&f iva?
Thanks for the replys
 
 

kallis3

User avatar
Forum Expert
Posts: 77157
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Aug 05, 2011 7:09 pm
You are not normally allowed credit in an IVA. Once you have completed and you have the completion letter then you can try and apply for credit but you're unlikely to get it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Broke of London

User avatar
Posts: 7761
Joined: Sun Sep 05, 2010 6:04 pm
Location: United Kingdom

Post by Broke of London » Fri Aug 05, 2011 8:11 pm
It all depends on the wording of your paperwork. Most people seem not to be allowed credit or have a £500 limit.
 
 

kallis3

User avatar
Forum Expert
Posts: 77157
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Aug 05, 2011 8:15 pm
He has completed though BOL - don't know if the completion letter has come through yet though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Broke of London

User avatar
Posts: 7761
Joined: Sun Sep 05, 2010 6:04 pm
Location: United Kingdom

Post by Broke of London » Fri Aug 05, 2011 8:28 pm
The question is about during an iva.
 
 

kallis3

User avatar
Forum Expert
Posts: 77157
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Aug 05, 2011 8:34 pm
I appreciate that but do wonder why the OP would want to know about it when he has finished his IVA.

He was actually asking about a full and final IVA so presumably he was talking about his own.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”