zim zim wrote:
Sorry Cybus, i do not agree with your argument! I have a company credit card and use it very frequently (the last time being my Singapore trip). If any individual were to abuse the use of a company credit card-the first action that the company would take would be dismissal surely! To that end, spending on a jolly/spree or household items would not come into the equation. Company cards are very useful (for me anyway)purely for the fact i do not have to worry about finding the money up front for food & drink etc whilst employed away from home.
Regards zim zim
I have little knowledge of Company credit cards. However, my opinion on who is accessing credit differs. Unless the company is able to restrict the use of that card (ie to business use only, usable at only certain points of sale)in such a way that it prevents the dishonest employee abusing it, it is the employee who has access to and therefore use of that credit.
The point I was trying to make on the abuse of such a card is this -
If that individual were to abuse a company credit card, they have incurred credit without consent or knowledge of the Supervisor. I agree that would most likely result in dismissal of the individual concerned and that then certainly does have an affect on the IVA -
Unemployed, the debtor no longer has any means to sustain the IVA payments and that will almost certainly cause the IVA to fail.
If the debtor was somehow able to maintain the IVA contributions, the IVA would still fail by way of the unapproved credit - yes the Company with the card may well have to pay it off, but surely they're going to seek to recover it from the debtor at some point. How will that be treated - presumably the debtor would attempt to include it in their IVA. But, unless I am mistaken, a bankruptcy offence has been committed, the result of which will be termination of the arranegment.
I don't doubt that a Company Credit card, if not abused, can be a useful thing to have. However, at the end of the day, it is still credit, whether restricted use or otherwise and in my opinion still requires sanction of the Supervisor.
Tell it like it is.
