1. Can I have new unsecured credit during an IVA ?

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Johndd86

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Post by Johndd86 » Wed Aug 24, 2016 9:57 am
1. Can I have new unsecured credit during n IVA and
2. If I do have new unsecured credit agreement can it be enforced?
 
 

Michael Peoples

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Post by Michael Peoples » Wed Aug 24, 2016 10:12 am
You can usually have credit up to £500 without the written consent of your IP and anything over this amount needs permission.

Any post IVA is not captured by the IVA and can be recovered in the usual way.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Aug 24, 2016 10:29 am
You also need to consider whether its going to be possible - if this is to be commercial credit as your credit rating is now shot then you might not be able to get credit in any event, despite permission from your IP.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Foggy

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Post by Foggy » Wed Aug 24, 2016 10:40 am
If you do manage to get permission ( or don't need it) and find a suitable lender (not the "break your legs" variety) the interest will be crippling!

Might I ask why you are considering credit ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

kallis3

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Post by kallis3 » Wed Aug 24, 2016 12:53 pm
Hi,

If you need something done urgently then ask your IP for a payment break to pay for it - much easier than taking out extra credit,
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
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