really need help

[clairesomp]

Ive been in a IVA for nearly 3 years and never missed a payment! I used to share a catalogue with my friend and it was taken out in my name. My friend called me to say she has placed an order for a few items. I thought this catalogue account would have been closed when I started IVA although there were no monies owing. I'm so frightened that my supervisor could find out and cancel my Iva, what should I do? Should I call my supervisor to explain. This mess has been caused due to me not wanting me friend to know my financial circumstances! Shall I get items returned and cancel account with catalogue?

Would be grateful for any help as Ive managed to keep my IVA going until now.

Many thanks

Claire

[plasticdaft]

Dont panic,but you are going to have to either get your friend to pay for the tiems and clear the balance asap,or get the items returned. £ years of iva payments will not be flsuhed down the pan due to this happening.
As a rule dont put your name to anything that others can gain credit from.

[David Mond]

Don't panic. Either get your friend to pay up in full or make arrangements to pay off the debt as soon as you can. In any event stop the friend using the account with the catalogue company or better still cancel the account so that this cannot happen again.
Depending on what you do it might be advisable to mention the matter to your supervisor.

[Michael Peoples]

Do not panic. You have done nothing wrong and your IVA will not be failed. First of all the items may not be delivered if the catalogue company does an up to date search. If so you can tell your friend you had cancelled it and she would need to get one for herself.

If the items are delivered and your friend pays as normal there is no problem but at this time make sure no more orders can be placed without your knowledge. It is not necessary to cancel altogether as it may come in handy when the IVA is over as a means of rebuilding your credit file or earning some pin money.

Tell your IP what has happened for peace of mind and he/she can give retrospective permission for the credit to be obtained. Bear in mind it is not a breach to obtain credit in an IVA if you have the consent of the supervisor.

[clairesomp]

Thanks everyone for youre advice it's made me much happier knowing I could be okay! I'm still not looking forward to calling supervisor to advise but I honestly did'nt think the catalogue would still be running. I hope they will agree as ca'nt think what to tell friend if I need to get items sent back.


Many thanks for all youre help!

Claire

[kallis3]

I'm sure you will be ok Claire.

If the items have to be returned, you could always tell your friend that due to the credit crunch you're cancelling the catalogue.

You could tell her that anyway, and suggest that she takes out an account for herself.

[MelanieGiles]

I would get the catalogue account transferred to your friend's sole name if she is going to continue to order goods from it, or just close the account down to avoid this happening in the future.

[clairesomp]

I consider myself to be an honest person but would I be better not to say anything and hope it goes unnoticed? I personally would tell them but I'm worried about concequences.

Many thanks

Claire

[Michael Peoples]

It is better to tell the IP and explain how you have sorted it out. Then [in the highly unlikely event that anything would ever arise as a result of the catalogue debt] you are covered. It really is not a serious issue and you have nothing to fear. If you do not tell the IP then it could look like you have something to hide.

[kallis3]

I don't think there would be any consequences as you could explain to the IP what had happened. You won't have your IVA failed for this.

You do need to decide what you are going to do about the catalogue though.