when must you stop using credit

[gail871]

Hi

I am in the process of an iva

When must i stop using my credit cards?

cheers

[aguise]

Hi Gail and welcome to the forum.
You should stop using your cards now as it would not be sensible to carry on using them. How far into the process are you?

Ang

[gail871]

i have a creditor meeting arranged for the 21st - i have used my cards recently would this now fail my iva?

[aguise]

I am not a technical expert Gail so wait for other answers. It hopefully wont affect it, your company should have told you this though. How recently did you use them. I did use mine about three weeks before applying for our iva, for food, and that made no difference and ours was accepted. As said wait for Melanie or Ian.
All the best and keep posting.


Ang

[gail871]

i used 1 of them last week - i have now cut them all up. Was not sure when i legally must stop using them

[MelanieGiles]

So long as they have now been destroyed, you ought to be fine.

[aguise]

That is the best thing to do. It is hard to get used to not having that crutch of credit but so much nicer when you actually pay for things and know that you wont get a statement with a load of interest on it through the front door. Hopefully all will be fine.
All the very best Gail.

Ang

[Adam Davies]

Hi
You should stop using credit cards once you instruct an IP to act for you
Regards