www.iva.co.uk

Hi everyone, I hope u can help, I received a letter from natwest about a credit card I used to have with them. They have basically said that because I have not used my credit card (with £500 limit ) for a few years, it will become dormant in August this year and I will have to apply for another one ?,?, really confused, I cancelled my credit card along with my overdraft facilities before we took our iva out in 2009!. I'm awaiting for our variation meeting to take place on may 13th, now I'm worried this might affect it. For some reason, my credit card was not cancelled !! What do I do ?

Hi if there is no balance on it then it should be fine.

Hi lisap3 I woudn't worry too much......just let your IP know that you've received the letter. The fact that you have not used it is the main thing. It also wouldn't hurt to write a letter to Natwest (with a copy sent to your IP) explaining that you were under the impression that the card had been cancelled and if not then you want it cancelled and will not be renewing.

The fact you havn't used it is the main thing.

Thank you for ur replies. I will contact my ip about it. Do you think that if I left it and if my f&f got approved that I could request for a replacement card ( seen as though my other got cut up before we took out the iva) and have it for emergencies ?

Hi lisap3, I doubt very much if Natwest would renew the card.
Personally I would just forget about it, also as you have not used it there is absolutely nothing to worry about.

Thanks jeffw, yes the card has never been used! The account still remains open so i assume that they could send me a replacement card as I wont need to re apply for the account. I understand, I should stear clear of credit IF after my full and final is approved. However, having a credit card for emergencies only and to help re build my credit rating I feel would be good. Ive read many posts on here that say the same but advise that it is important to ensure the balance is paid in full each month. The account will go dormant if I don't use it by August . Just to keep it open, could I use it if my f&f is accepted just for something cheap, say my food shopping, just to keep it from closing and pay it back into the account straight away?

This will not affect your variation proposals lisap3 - and so long as you don't use the card whilst the IVA is still in place you are not in breach of anything.

Thank you Melanie . Does my iva finish if the f& f is accepted and they receive the funds, or does it remain in place until I receive my cc ?