If you use it in year 5 when an IVA will be removed 12 months later,it will show up as a years worth of green ticks when the IVA evenetually drops off,until then you are wasting £4.95 a month.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Thanks for the advice, I'll delay the creditbuilder to year 5, that seems a long way off at the moment!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by plasticdaft
2 part post!!! hit submit by accident.
If you use it in year 5 when an IVA will be removed 12 months later,it will show up as a years worth of green ticks when the IVA evenetually drops off,until then you are wasting £4.95 a month.
Its only my opinion but anything positive thats going to cost you is a waste of time until nearer the point where the iva drops off the file as it will far outweigh anything positive on your record.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Totally agree - you won't be able to build up your credit rating properly until then anyway.
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
Just my thoughts on these prepaid cards. Yes they can be used to add green ticks to a credit report. Those green ticks will be there for up to 6 years from when you settle the account. So will be there after the IVA has been completed.
If you wanted to build up some positive data whilst in a IVA and they are allowed by your IP then it would be another avenue of building up your credit file as they say.
I did not feel the need for one, as I had a visa debit card with my account anyway and was quite happy to use that. As already been pointed out, if the card company does go under you can lose what you have on the card so it's something to keep in mind if you do go for one.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
I prefer my debit card as well now - the ticks will be building up on the bank account which has to be good.
I wouldn't pay for a card, even to build up my credit rating again.
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
