Page 1 of 1
Posted: Wed Sep 03, 2008 8:40 pm
by samrose
i am currently in an iva but i have run up another credit card debt can this be included in original iva or can i just pay this card off at a reduced rate per month when i can afford it
Posted: Wed Sep 03, 2008 8:44 pm
by LoneRanger
How did u mange to get a credit card while you were in an IVA? Im no expert but im pretty sure you can't include a debt that you have accured after the date of the creditors meeting.
You must be struggling with your IVA payments if you felt the need to run up more debt so this is something you should speak to your IP about ASAP.
Posted: Wed Sep 03, 2008 8:48 pm
by Julie
Hi - if you have run up credit whilst in an IVA, you have broken the terms of the agreement and it may fail.
Did you take credit to be able to manage because your IVA payments were too high?
You really need to contact your IP on this.good luck x
Posted: Wed Sep 03, 2008 9:09 pm
by Lisa2009
You would not be able to include this in your current IVA.
You are not allowed credit whilst in an IVA unless with the express permission of your IP. I am assuming that as it is a credit card, you did not have permission and are therefore breaching the terms of your IVA.
Posted: Wed Sep 03, 2008 9:15 pm
by Adam Davies
Hi
Cut it up and pay it off as soon as possible.
As others have said you are in breach of your IVA agreement
Regards
Posted: Wed Sep 03, 2008 9:34 pm
by look_divine
how much have you used of it?
Posted: Wed Sep 03, 2008 9:51 pm
by MelanieGiles
You will need to explain what has happened to your Supervisor, as presumably you will have disposable income spare to meet the repayments. Everyone is allowed to make one mistake whilst in an IVA, and you are unlikely to get beaten up about this too much (depending on how much you have borrowed) but it is best to be open and honest as you may need their help and support in dealing with the matter.