Taking a loan while in an IVA

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chris455
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by chris455 » Wed Mar 07, 2018 7:56 am
i have taken out a load whyle on an ive can i add it to the iva iv got 10 months left.
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Foggy
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by Foggy » Wed Mar 07, 2018 8:00 am
Probably not. Taking out a loan whilst in the IVA is a potential breach.
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kallis3
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by kallis3 » Wed Mar 07, 2018 8:45 am
How much was it for and why did you need it?
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Lisa Thomas
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by Lisa Thomas » Wed Mar 07, 2018 9:09 am
Was it from a commercial source? I'm surprised you were able to get a loan whilst in an IVA. Are you sure you are in an IVA and not a DMP?

You are highly likely to have breached your IVA terms unless it's under £500, depending on your terms.
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MerlinL14
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by MerlinL14 » Wed Mar 07, 2018 7:37 pm
This could cause your IVA to be failed by your IP. As a side note who was it you took the loan with as their credit check was either flawed or they just didn't bother!
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