www.iva.co.uk

I have a credit card with £200 balance on it .
And is up to date
Can I use this card whlist on an IVA they are not included on the IVA proposal.?

You cannot use it without the permission of your IP and it should be included, unless there is a very good reason and creditor approval, which is rarely forthcoming.

To not include it could be deemed a breach and the IVA could be failed.

Hi,

No, you should not use this card - it should have been included in the IVA.

It could result in some problems if the company find out about it.

Why didn't you include it and why do you feel the need to use it now?

My creditors meeting is on the 9th Dec
My credit card balance is £10 with a limit of £200
So £190 on it.
I thought you can have credit up to £500.?

Kallis3
Have you completed your IVA
If so how was it living on it ?

Credit up to £500 is not always available, and sometimes only with permission ( check your proposal). However, this is intended to cover things like car insurance and utilities, which are often deemed as credit. In any even this card should be declared and agreement sought to keep it -- but be prepared to lose it.

Hi,

Yes, I completed without any extra credit and it was fine and agree that this card should not be utilised.

Even though my IVA has not been set up..I can't use this card for Christmas shopping..it's not on my IVA proposal and not in arrears.

Look at it this way ... you are entering an IVA ... effectively saying to your creditors " I can't afford to pay what I owe you" ... and, at the same time you are asking another creditor for more money which you KNOW you can't repay.

You could run up the card ( which WILL have to be in the IVA or excluded by your IP) before the creditors meeting, but this is actually fraud.

I suspect the card has been stopped in any event.

You have to declare it if it has a balance and you should not be using it. As foggy says it is fraud.

Ok thanks won't use it then will cut it up..
Cheers guys

That's the best thing to do but if it has a balance it has to be declared to the creditors.

Can you have pre - paid credit cards? where you cant have credit - only a balance what you put on yourself?

A pre paid card is not a credit card. You cannot spend what is not on there as it's your money. A lot of people have them,