Last stages of IVA... how far do they look to end.

[s.b.w]

A quick question about the finalisation of an IVA.

I am in the last months of my IVA and need a bit of advice.

My parents have allowed me to use their credt card (I have my own with name on it). The credit limit is £200 and they leave it there for me for emergencies. Also, I have a bill with a catalogue for £150 for clothes and essentials. They are both registered to my address.

My question is:

In the final stages will they do a credit check on me? And if they find tese debts can it cause problems with the finalisation?

What are the processes of closing the IVA?

Can this cause me any major problems?

Your advice would be much appreciated.

Shaz



Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[Adam Davies]

Hi
There will be no credit check.
The supplemantary card is ok but the catalogue would be a problem normally but as it's a low level I wouldn't worry about it.
Just focus on concluding your IVA
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[s.b.w]

Thanks Andy, as always your advice is extremely helpful.

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[ray_a]

Sorry to be a dampener on this but why do you want to go back to using credit again?

[s.b.w]

I don't, but it's the onlyway I can afford to buy thingsat the moment.

It's acually the only tng I can do to keep myself clothed!

I had (up until 18 months ago) done 2 jobs, my mai full time job and a part time job. The part time one kept my head above water, but due to pressure from my full time post I had to give the other job up.

The credit card is there because I have a lot of travel with my job and occasionally have to book things online. I only have a basic bank account with nationwide and they wil not let me have a debit card.

Most places I can afford to stay at (travel lodge etc) only take online bookings for their cheap rooms, hence the need fo a card I can use online.

I've applied for a debit card from nationwide on loads of occasions and they just won't budge.

As I've said previously, the only way I can buy clothes at the moment is with the catalogue and it really isthe last thing I wanted to have to do.

Roll on May.... when I will have an extra £300 and can start saving and living a really debt free life!

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[sonyse2t5]

Sorry mate, still don't agree with the CC thing.As you are close to the 5 yrs of hell you have other options

If you need plastic with 100% purchase acceptance then you're right - Masetro,VE, and Solo are a hit and a miss especialy with local or international travel.

Travelodge takes masetro which is a debitcard.For the UK I have yet come across any merchants who won't take Masetro.

About NW - as you say- does a V Debitcard which you can upgrade from if you have a cash account. Wait till the IVA is officially ended - with all the C' refences agencies confirming there are no debts outstanding. NW will upgrade you!!

A VISA debitcard or Mastercard you will need only for international purchase or some airline bookings.

[s.b.w]

Sonyse: I can safely say have tried everyother avenue and this is the only one open at the moment. The card i always in credit, I never actually use the balance, and argument I have made with nationwide several times and heard absolutelynothing positive from them or any other high street provider. There are those "pay as you go" cards, but the fees on these are extortionate.

As for Maestro, I'd use it if they gave it to me, which nationwide won't and I'm not being considered by any other high street bank or building society! Be assured I've spent over 3 years trying and nobody wants to know!

This wasthe last option and the card is used only in emergencies for both home and international travel. Remember, ifyou book something online the company usualy want to see your card at the destination as proof of who you are. Orginally my parents wouldpay for foreign travel (this happened twice in 3 overseas trips) ad I was told I could not book in as I did not have the card wih me! AND it was not in the name of the card used! This happened in NY and Madrid and meant I had to beg steal and borrow money to get a room, and not even at the hotel I booked into on one occasion!

As you can see, I've tried.... and it's not getting any easier.

It really is the best short term mend and makedo until I can open or upgrade to an account with a debit card. And Nationwide have aleady told me they will ONLY consider this after 12 months of the finalisation of my IVA?

I can safely say I have been to every high street provider (who I don't owe money to via the IVA) an they have all said they would not consider this.

If you have any ideas, then fire away, bu after the years and learning curves I've been through I can say that I didn't make this decision lightly as people seem to think!

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[UPINSMOKE]

Have you tried Thinkbanking they do a Debit card and they will take anyone. The only drawback is you have to pay £25 set-up fee and then £12.50 a month for the privilege of having it.

But then again if you have been paying over £500 a month on loans and credit cards like I have, its a drop in the ocean.

It works like two bank accounts in one your wages are paid in and then any standing orders etc are separated from the rest of the money leaving you the balance to spend on the card as you want. So all regular bill are always covered.

http://www.thinkbanking.co.uk/index.asp

You can apply on line it only take around 10 mins to do.

[s.b.w]

Thanks UPINSMOKE, I did look into this, and I was worried about the high fees.

At the moment I am barely surviving due to leaving the part time job (it was that or possibly losing the full time job).

I have the support of my family (they even tried open an additional account with one of te highstreet boys and having me as 2nd account holder) but with no luck.

BUT.... with only 6 months left.... I can safely say my debt free life will soon be here!

Phew.....

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[Skippy]

If you are managing your money ok (obviously you are as you're near the end!) a pre paid card might not be so bad - the Cashplus costs £4.95 a month no matter how many times you use it, or if you use it less frequently you can pay £1 per transaction. This would work out cheaper than Think Banking.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[s.b.w]

Thanks for that Skippy. I will have a look into that.

Regards

Shaz

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[louisa.s]

Hi Shaz,
I certainly see where you are coming from and I fully understand. This might sound a tad contraversial on a debt forum however I do think it is important that we learn from the mistake we made and how they were made and that we respect any future form of credit if we choose to go down that road. I think with a credit card along as you have learnt that if you use it you top it up or pay it immediately after then it is a useful thing to have (particular for emergencies) however I think the banks need to remedy to situation of offering more and more credit when you are only making minimum payments etc and I think having and using a credit card within a small limit is in it self a good lesson to learn.
Lou

[s.b.w]

Totally agree Lou.

I just posted something very similar on a posting from today regarding the increase in credit card debt.

Regards

Shaz

Arghhhhh!!!!!!!!!
If only I'd said NO!

Go to my blog at:

http://shazzy.blogs.iva.co.uk/

[sonyse2t5]

sbw,

I am shocked to hear about the NW statement that 12 months have to pass before you get the Visa DCard upgrade?? And your experiences with other banks. Its discrimination if you ask me?

Yorkshire Bank howver will open a basic account for you with Masetro. I didn't do it because there are not enough branches in my area and you can't pay into a post office to reach the account like some Banks allow.Damn! Try it if there are branches in your area.

I use SOLO from natwest which is find for 95% of things.I suppose for you specific needs using a suppl' card is probably your best bet.

[louisa.s]

Just on that note Halifax do an account called Easycash which comes with a electron card I believe. We've just applied for it so will let know how that goes. It does come with online banking as well etc.

Lou