www.iva.co.uk

Does anyone know what the creditors say if you use any credit facility within 3 months of applying for an IVA? Been desperate times my wife has used her card over the last few weeks and we're currently looking at applying for an IVA.
JB

If the card has been used for essentials then it will not be queried as this is the reason that many of us apply for an IVA, we cannot afford to live without credit facilities.

Once you have identified that you have a problem that needs addressing however, and stop making your repayments, you should then make the relevant phone calls and stop racking up extra credit.

Discuss your situation with a number of professionals before making any decision. Best wishes.

As long as has not been used for luxuries, then you should be ok.

I do think though that you should stop payments to your creditors and you can use this to fund day to day expenses whilst waiting for your meeting.

Do they actually look historically at where you used your cards?

They can look at the history of credit use,they have to be careful that people havent deliberately run up debt and then gone for an IVA to avoiud paying it all back!!

Don't blame them but just wondered if this was a general thing for creditors. I believe there is a thing in BR where you get a BRU or is it a BRO when the creditors money was used recklessly (how do you spell that word!) Is it the same for IVA and the creditors meeting?

I haven't been reckless/wreckless?, just wondered.

With christmas approaching and my daughters birthday just happening she has put a few items on a next account card although they are one of the minor creditors, I take on board what you are saying Kallis3 and we have done this now but untill the money is available this is what she has done rightly or wrongly and just wondered if we should hold on a while before applying for the iva as a result.
JB

I paid my car tax on a credit card and felt like a thief.

I'm sure it will be OK. The sooner you stop paying creditors and stop living on credit, the sooner you can start to budget and get down to sorting the problem out. Leaving it another few months will only make the problem worse in terms of running up more credit.

Cath - your spelling was right first time!

Joe - I would not put off doing your IVA as things are only going to get worse.

Speak to one or two companies by visiting www.iva.com.

I do know where you are coming from with Christmas and birthdays at this time of year. I have mine, hubby's and stepson's all in December!