consequences of taking out unsecured loans in IVA?

7 posts Page 1 of 1
Post Reply
 
 

agp

User avatar
Posts: 1
Joined: Fri Jun 06, 2008 6:24 am
Location:
Post by agp » Fri Jun 06, 2008 6:26 am
Quote
What are the consequences to me and my IVA if I take unsecured loans whilst in an IVA?
Top
 
 

cat 1

User avatar
Posts: 597
Joined: Thu Nov 08, 2007 5:42 pm
Location:
Post by cat 1 » Fri Jun 06, 2008 6:31 am
Quote
I think you'll find the modifications will tell you that it will constitute a fail.Are you thinking of doing this?Why would you need to? Cat
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77175
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Fri Jun 06, 2008 6:45 am
Quote
I agree Cat. Why would you want to? Surely you are in an IVA to get rid of such debt.

Your credit rating will be totally shot anyway so I doubt if you would get one.
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
Top
 
 

cfnc

User avatar
Posts: 314
Joined: Tue May 06, 2008 5:38 pm
Location: United Kingdom
Post by cfnc » Fri Jun 06, 2008 7:26 am
Quote
Depending on what is for and how much your IP may allow it, but it would be entirely their decision and would have to be essential.

Kirsty
Kirsty
Top
 
 

Skippy

User avatar
Posts: 20720
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom
Post by Skippy » Fri Jun 06, 2008 8:37 am
Quote
Unless it was with the express permission of your supervisor it would most likely fail your IVA. Also, I really think you would struggle to get a loan with any reputable company due to your credit rating.
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Fri Jun 06, 2008 8:49 am
Quote
178.9% apr through a dodgy company,surely that alone would be enough to put you off,as no one else would lend you money!!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

Soulgrowth

User avatar
Posts: 2446
Joined: Fri Jul 07, 2006 9:38 pm
Location: United Kingdom
Post by Soulgrowth » Fri Jun 06, 2008 11:04 pm
Quote
Don't do it agp [:(]

Are you finding it difficult to manage in your IVA?

Debbie
Debbie
Top
Post Reply
7 posts Page 1 of 1
Return to “postings for june”