Just a question my girlfriend asked about me being in my IVA. I told her I am not allowed to get credit due to the IVA and due to the IVA I would not be able to get it anyway not that I would want it but she asked how would the IP know if you were able to get credit from somewhere??
I don't know...perhaps they do checks? They can ask for copies of bank statements at any time so the credit repayments would show up there!! More importantly for you, additional credit wouldn't be affordable and you allowances could become uncomfortably tight. x
I suppose they would only know if a) you needed to amend your income/expenditure to accommodate the payments or b) if they got hold of your credit file, but I'm not sure if they can order one or not !
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
Hi Broke of London, That makes sense as I said it was just a question she asked. We have always talked about IVA from the start (thats over 4 and half years) and can answer most of her questions about it from reading this forum just wanted to try and get an answer for her really I think it is great that we can talk about my because of course it affects her as well so its good she shows an interest.
I don't think they check credit files but as BOL says, they can ask for bank statements. The only credit you would be able to get would be payday loans and they should be avoided like the plague!!!!
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
The ip would not know but if they somehow find out(via bank statements etc) you would be in breach of your iva which would fail,the ip would have taken their fee and you would be thrown to the lions(or creditors). You would be back to square one and if you tried to propose a 2nd iva creditors may well refuse on the grounds that you were dishonest previously!
A risk worth taking,I think most definately NOT!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Hi All please I think you may have mis understood. I not intending to try and get any credit at all I have been in the IVA for a long time now so it was really just a what if??? Question from my girlfriend a bit like what if I won the lottery?? I use this forum as my question database for my girlfriend as she is always throwing questions at me about the IVA. Thanks for the replies.
It's an interesting question. Like you I have NO intention of ever having credit again, but I've always wondered how they would know, like you purely hypothetically.
Not that I think 99.9% of us would ever touch credit again!
"It is never too late to be what you might have been"
Fiona
I am sure they rely on a good relationship with the client - as well as trust, after all if they find out it will be the client that risks failure of the IVA not the IP.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kallis3
I don't think they check credit files but as BOL says, they can ask for bank statements. The only credit you would be able to get would be payday loans and they should be avoided like the plague!!!!
My IP clearly told me the reason they ask for bank statements each year is to check for things like payday loans (cos its a sure sign cant afford to live payday to payday) so you might want to check that this is the correct info being given out!
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
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft
I dont have to provide bank statements either.
As for not touching credit again,its a hard life without it,but it must be controlled and not controlling.
And Adam,keep them questions coming(if only to keep the girlfriend's thirst for knowledge going!!).
Paul
spot on again plasticdaft.
there is nothing wrong with credit when used properly and not as be all and end all solution.
when im out of this mess i will get a credit card and use it very wisely as one thing i have learned its the meaning of only spending what you got and to be carefull.if you travel abroad nowdays a card is essential as a guarrentee for hotels and hire cars etc.
i will never ever use one to pay for food and bills again and worst of all to get cash out.
the lecture is over for today [:D]
cc received 6th January 2014 now upwards and onwards
Hmmmm probably best not to even consider it Adam whilst in an IVA in my humble opinion. Surely your relationship with your IP should be completely transparent as they can only advise you fully if they have all the facts. I agree with Littlefi and Back on Track although I too am actually terrified of credit now mwhahaha.
We are all in the gutter but some of us are looking at the stars - Oscar Wilde. My blog: http://car1e.blogs.iva.co.uk/
