www.iva.co.uk

Hello,

I have been in an IVA for a couple of months, everything has gone smoothely which is great. But just had a moment of panic though when i looked at my agreement, as follows:

So when i started the process of the IVA i opened a new bank account with Smile.co.uk (co-op), with no credit facilities so is in good shape.

Upon reading my IVA agreement it states that i am required to destroy credit and debit cards.

Now would this just be for my the creditor accounts which were included in the IVA and therefore would not also include my new debit card with Smile??

Please help

Thanks.

Hi
Yep it is just for the accounts that you had with creditors or that are creditor linked i.e if you had a loan with halifax and have a bank account with them pre-iva then you would need to destroy the card to that as the right of offset applies.

If it was Bankruptcy then it is literally all accounts

Hope that helps

It is just for all of your creditor accounts, not your new one.

I have a smile account and have had no problem operating this. x

[quote]Originally posted by boznich80

Hello,

I have been in an IVA for a couple of months, everything has gone smoothely which is great. But just had a moment of panic though when i looked at my agreement, as follows:

So when i started the process of the IVA i opened a new bank account with Smile.co.uk (co-op), with no credit facilities so is in good shape.

Upon reading my IVA agreement it states that i am required to destroy credit and debit cards.

Now would this just be for my the creditor accounts which were included in the IVA and therefore would not also include my new debit card with Smile??

Please help

Thanks.
hi
what it means is you cant have credit cards while in a iva. but your debit card with smile is fine you can have that if you do have any then cut them up .

Any cards with your creditors, be they credit or debit cards, must be destroyed.

kallis3 wrote:

Any cards with your creditors, be they credit or debit cards, must be destroyed.

hi jan if smile are a creditor than i agree but if smile are not a creditor then surely he can keep the debit card

I did not say that he couldn't, I pointed out that any cards belonging to creditors should be destroyed.