Got a credit card in final year of my IVA

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robert885
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by robert885 » Sat Sep 29, 2018 2:12 pm
I have an IVA in the final year and stupidly got a credit card and they put the limit up and my car broke so I stupidly used it I'm now worried that this will ruin it all and my IVA will be stopped. How can I stop this from happening?
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robert885
Posts: 3
by robert885 » Sat Sep 29, 2018 2:17 pm
robert885 wrote:
I have an IVA in the final year and stupidly got a credit card and they put the limit up and my car broke so I stupidly used it I'm now worried that this will ruin it all and my IVA will be stopped. How can I stop this from happening?


The amount is £1750. I have 5 months left with a few additional months because of a higher income. I really don't want it to fail because of this I'm so stressed out.
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Foggy
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by Foggy » Sat Sep 29, 2018 3:01 pm
Choices are basically: Hope it doesn't come to your IP's attention or come clean and throw yourself on his or her "mercy". If you keep quiet and get caught out he or she is going to be less sympathetic and / or helpful. If you come clean they might decide to be sympathetic and helpful. The bottom line is that you have broken the terms of your agreement.

To be honest this is not a trap that I would like to find myself in and cannot really advise as to what you should do -- only you can decide.
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robert885
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by robert885 » Sat Sep 29, 2018 3:07 pm
Foggy wrote:
Choices are basically: Hope it doesn't come to your IP's attention or come clean and throw yourself on his or her "mercy". If you keep quiet and get caught out he or she is going to be less sympathetic and / or helpful. If you come clean they might decide to be sympathetic and helpful. The bottom line is that you have broken the terms of your agreement.

To be honest this is not a trap that I would like to find myself in and cannot really advise as to what you should do -- only you can decide.


Thank you i think the best bet is to come clean as surely they would see it on my credit file if I tried to hide it - I'm literally so angry at myself here I was on the home stretch in single digit figures of payments left. I've never missed a payment or had a payment break and then I go and ruin it all.
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Radish
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by Radish » Sun Sep 30, 2018 12:59 pm
You did very well to get a credit card whilst in an IVA. I managed to get one after I received my certificate but, a small limit - which they have put up a few times and it now stands at £2k, thankfully I rarely use it, I cant face IVA number 2.
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