Credit cards while Iva

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Lauren1995

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Post by Lauren1995 » Wed Jul 10, 2019 12:12 pm
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I just applied for a Iva, and forgot I signed up to amazon music with my credit card last month and they’ve took payment today I’m freaking out it will mess the whole things up. My creditors meeting is the 23rd
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Foggy

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Post by Foggy » Wed Jul 10, 2019 12:24 pm
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You should be OK. It is not a king's ransom ... but make sure that other continuing authorities are cancelled.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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MerlinL14

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Post by MerlinL14 » Wed Jul 10, 2019 12:25 pm
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Shouldn't cause too much of an issue. If this is a monthly deduction then you need to cancel it now as your Bank will most likely withdraw any credit line and cancel the credit card once they get to know about the impending IVA.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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Lauren1995

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Post by Lauren1995 » Wed Jul 10, 2019 1:10 pm
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As soon as I noticed it a freaked out and cancelled it.. still worrying I know it was only 7.99 but still edit It was actually linked to my bank but taken it out on my cc.
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Lauren1995

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Post by Lauren1995 » Wed Jul 10, 2019 1:12 pm
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Wed Jul 10, 2019 12:25 pmMerlinL14 wrote:
Shouldn't cause too much of an issue. If this is a monthly deduction then you need to cancel it now as your Bank will most likely withdraw any credit line and cancel the credit card once they get to know about the impending IVA.
They are one of my lowest creditors I owed £700 but few weeks before I applied for I paid £600 of it. Still freaking out. What do I do let the Creditfix know? Or just leave it
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Foggy

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Post by Foggy » Wed Jul 10, 2019 1:19 pm
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Just leave it ---- they will get the true balance when the card issuer claims. These usually always differ from the figures we give them as we are always working one statement behind.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lauren1995

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Post by Lauren1995 » Wed Jul 10, 2019 1:21 pm
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Wed Jul 10, 2019 1:19 pmFoggy wrote:
Just leave it ---- they will get the true balance when the card issuer claims. These usually always differ from the figures we give them as we are always working one statement behind.
Just freaking out they think I’ve used my credit card..and it’s going to mess up the Iva and they’ll :/ scared and anxious even more now
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MerlinL14

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Post by MerlinL14 » Wed Jul 10, 2019 2:54 pm
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Really, don't worry about it. If it was raised as a concern (which I very much doubt) you have a reasonable explanation as to why.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
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Shaun Vickery

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Post by Shaun Vickery » Wed Jul 10, 2019 3:27 pm
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Arguably the debt was incurred pre-IVA anyway. I'd be amazed if it presents itself as a problem.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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Lauren1995

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Post by Lauren1995 » Wed Jul 10, 2019 3:29 pm
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Wed Jul 10, 2019 3:27 pmShaun Vickery wrote:
Arguably the debt was incurred pre-IVA anyway. I'd be amazed if it presents itself as a problem.
what do you mean shaun?
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Shaun Vickery

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Post by Shaun Vickery » Wed Jul 10, 2019 3:35 pm
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If you signed up to Amazon Music prior to entering the IVA then my point is that, even if it is raised as an issue, the contract was already entered into.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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Shaun Vickery

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Post by Shaun Vickery » Wed Jul 10, 2019 3:35 pm
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...so the payment was unavoidable.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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justindrew

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Post by justindrew » Mon Oct 14, 2019 1:13 pm
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Before you begin an iva, it's necessary to know the drawbacks. as an example, an iva can have an effect on your credit rating for 6 years. If you are a home-owner, you'll even have to unleash equity in your home
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