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Posted: Fri Jan 30, 2015 12:12 pm
by Arek
Hi
Are we eligible (people on IVA) to apply for monthly instalments to buy something? (If we passed a credit check of course
)
Thanks
Posted: Fri Jan 30, 2015 12:20 pm
by ilikewatch
Assuming that you mean taking credit (as opposed to a "christmas club" style scheme where you pay for an item upfront using installments) then it depends on your arangement.
Some arangements allow a small amount of credit to be used without needing permission from your IP, otherwise you would have to approach your IP and gain permission before taking on any credit.
I'm guessing that you're talking about a catalogue or a Brighthouse style shop?
Posted: Fri Jan 30, 2015 12:39 pm
by Arek
Yes, I am talking about a Brighthouse style shop or taking fixed term credit, what allows me spread the cost over 10 monthly repayments. Example pay a 10% deposit in store by debit card followed by 10 monthly repayments.
So I understand, monthly instalments is like taking the normal credit. Some of us may take credit up to 500£, some of us are ineligible.
Thanks
Posted: Fri Jan 30, 2015 2:30 pm
by Shining
I wouldn't personally I would talk it over with your IP if it's a vital purchase as often a payment break can be arranged in the first instance.
Posted: Fri Jan 30, 2015 2:50 pm
by Arek
Yes, I have asked my IP about this. Got an answer. Thanks
