Vanquis card in IVA?

[Christabelle_sparkle]

I have just received a letter in the post this morning from Vanquis....It is a pre selected application for me to sign and send back to them.
The strange thing is, I have not had anything like this come to me since being in the IVA,so why have I had this now. Can I have this whilst in an IVA?...Has anyone got one in an IVA?
It says it helps rebuild credit status and only has a limit of £100.

[Niobe]

We've had one as well and it's gone in the recycling. You shouldn't take any credit out whilst in an IVA but some proposals do allow for up to £500. Check your paperwork.

It can't help your credit rating whilst in the IVA and of course just because you have been preselected doesn't mean to say that you will get one.

[Christabelle_sparkle]

Hi Niobe,
I understand that...it just seems soo weird getting something like this because before we were in our IVA we used to get this kind of stuff all the time from different companys and once we were in the IVA it just stopped suddenly and we get none.

[Niobe]

They send out masses - I don't think they know about the IVA.

Personally speaking I'd just bin it.

[Christabelle_sparkle]

I have done...thanks Niobe

[nickjohn]

Some of these companies trawl the insolvency register and send out specific letters / applications saying it will help improve your credit rating etc knowing that you will be keen to do anything to help your credit file.

I think its wrong that when in an IVA your information is open to the public the whole time your in the IVA yet when you go bankrupt the information is only available for some 6 months, you would think it would be the other way round. I know I would rather do work for someone who has a grasp of their debts and is doing something to resolve it as opposed to someone who has not paid back a penny and could well do it again.
I saw some stats on the internet ages ago saying those who go bankrupt are more likely to go bankrupt again as opposed to those in an IVA...

[Niobe]

When you go bankrupt Nickjohn, the information is available for up to 12 months in some cases and is always available via the London Gazette.

At least in an IVA, once you have completed, it will disappear off the radar.

[Niobe]

Meant to say as well that BR will be on your credit record for six years, the same as an IVA.

[Christabelle_sparkle]

It is annoying though because why trawl the insolvency register and send this kind of junk mail to people in our situation, surely they know we are not going to be eligable.

[Niobe]

Some people will apply and may well be accepted (at least one poster has done that recently).

I just bin anything like that pops through the letter box.

[olydak]

You can only have a credit card once you receive your completion certificate. I thinking once i made the last payment could have a Vanquis card, i applied and received one with a £750 limit, then found out GT would fail my iva as i was in breach, so i imediately cancelled it and cut it up. If anyone gets a pre-approved application for a credit card before you receive your completion certificate then i would suggest you file it in the bin. Regards David.

[Christabelle_sparkle]

Thanks David.