You are not allowed further credit in an IVA, but some proposals do allow you to get credit under £500 -- but this is to cater for the likes of car insurance and credit meters for gas and electricity. Additionally, you would find it almost impossible to get a payday loan from a reputable source.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As has been said best to avoid Payday loans if possible - if the payment break is an option it may be worth exploring. Looking further down the line many Mortgage Lenders currently have a big issue with payday loans having been taken.
Best of luck.
IVA Mortgage Expert
Zebra Money Centre