Company Credit Card -

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Oklahoma

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Post by Oklahoma » Sat Jul 31, 2010 12:47 pm
Company Credit Card - I am currently in an IVA and am changing jobs. The new job say that all business expenses are paid using a company credit card, and that I need to tell them if I anticipate any problems when applying for such a card.

My understanding is that I am not allowed to apply for further credit under the terms of my IVA, I would also imagine that my credit score is zilch, so the corporate provider would refuse anyway, but I'm also concerned that if I announce that a credit card is not suitable for me that it will alert my new employer to a private matter, irrelevant to my work that is well in hand and managed. Grateful for advice on this.
 
 

666

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Post by 666 » Sat Jul 31, 2010 3:55 pm
just tell them you would prefer to use your own credit card for expenses as you get rewards from it or something. that way they dont need to know about your circumstances.
Is there likely to be alot of expense incurred from the new role or is it just a recommendation of theirs?
 
 

Nicola.sa

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Post by Nicola.sa » Sat Jul 31, 2010 4:02 pm
This is going to be a problem for us too. My OH currently has a company credit card which he uses when on business trips for all his expenses and for taking clients out for dinner etc..I am not sure how he is going to get around this once we enter IVA without telling his employer.
 
 

666

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Post by 666 » Sat Jul 31, 2010 4:13 pm
Provided he uses the card purely for company expenses then he may be allowed to keep it but it would need to be confirmed with the IP you choose. Does he pay the card bill or the company? If the company pay it then he should be fine - if he has to pay it then as long as he has a paper trail of the expenses, company payments to him covering the expenses then I cant see an IP not allowing it to continue... providing it doesn't affect the IVA payment amount and he isnt dipping into the company credit card for personal expenses then well be fine
 
 

plasticdaft

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Post by plasticdaft » Sat Jul 31, 2010 4:17 pm
Discuss this with your Ip and I am sure others in IVA's have kept or in fact got new company credit cards during an IVA.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

dw1983

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Post by dw1983 » Sat Jul 31, 2010 4:18 pm
Hi I have a company credit card it is in the name of my company with me as a cardholder as far as I'm aware they don't credit check additional card holders as the debt is in the companies name also I was told by my ip that there is no problem in me having the card for the same reason it's in the companies name
Iva completed
 
 

Nicola.sa

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Post by Nicola.sa » Sat Jul 31, 2010 7:16 pm
It is in his name but his employers pay the bills.
 
 

dw1983

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Post by dw1983 » Sat Jul 31, 2010 7:31 pm
Ah that may be a problem for you not sure about that one
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MelanieGiles

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Post by MelanieGiles » Sun Aug 01, 2010 12:47 am
I would have no problem with him keeping that card Nicola - as you say it is purely for business purposes and his employers pay all of the bills. It will need to be disclosed in your IVA proposal, but I have done this several times for people in a similar position to your partner with no problems.
Regards, Melanie Giles, Insolvency Practitioner
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