Very and Next Accounts

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
Posts: 30
by Itsallouttherenow » Sat Mar 10, 2018 10:17 pm
I am about to start the IVA process.
I have a Very and Next account with balances of approx £1000 on each.
I have enough credit available on my Barclaycard to pay both of these off now.
We have not yet missed any payments and so all cards and accounts are still active.
Should I pay them both off using the Barclaycard ?
Would Barclaycard use this against me at the decision process?
User avatar
Forum Expert
Posts: 10332
by luluj » Sun Mar 11, 2018 5:36 am
No don't do that - enter them into the iva as creditors as well.
User avatar
Forum Expert
Posts: 73926
by kallis3 » Sun Mar 11, 2018 9:25 am
I agree - put them in the IVA otherwise it could be seen as favouring creditors.
User avatar
Forum Expert
Posts: 27718
by Foggy » Sun Mar 11, 2018 9:44 am
It is rare that creditors get "personal" in the decision making process -- and often the decision is made by agents anyway. However, juggling with the balances this close to proposing an IVA could smack of manipulation and might backfire.
User avatar
Lisa Thomas
Industry Expert
Posts: 7186
by Lisa Thomas » Mon Mar 12, 2018 9:55 am
Why do you want to do it?
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 38 guests