I am afraid this explanation is as woolley as the clause in the first place, but, like so much of an IVA, it is open to interpretation.
Apart from utilities and car insurance there should, in any case, be no need to resort to borrowing ( which will be from sub prime lenders at eye watering rates if you can get it at all). If you need a modest sum for urgent repairs, for instance, you could ask the IP to agree a short payment break to cover it.
magicsam wrote:I foolishly took out some payday loans during my IVA and am now considering complaining about the companies involved, I just wanted to check whether it might cause me problems if it came to light I took them out.
Personally I would let sleeping dogs lie and draw a line under it.
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