My IVA was excepted a week ago. What happens if I now buy an item ?

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ben
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by ben » Sun Apr 09, 2017 6:54 am
Hello. My IVA was excepted a week ago. My question is in theory what happened if say I were to buy an item from a catalog, i.e. Littlewoods now? Would I still need to pay for it?
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kallis3
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by kallis3 » Sun Apr 09, 2017 7:47 am
You should not have any catalogue accounts still open. I'm afraid you would have to pay for any items you buy with cash or debit card.
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Foggy
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by Foggy » Sun Apr 09, 2017 9:00 am
You should not raise any new credit whilst in an IVA, without the permission of your IP, subject to any exclusions that might be contained in your agreement. No new debt can be added to your IVA except in exceptional circumstances and to purchase something without the intention or means to pay for it is fraud / theft.
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moira717
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by moira717 » Sun Apr 09, 2017 6:54 pm
Hi, I agree with above information. My iva was accepted last week and I was really concerned that I had relied on credit month prior to applying for it ( although this was for essentials i.e. food and petrol). From time I applied I cut up all credit cards and stopped all lines of credit. From what I understand an iva apart from allowing you to be debt free is also a way of re educating you in your spending. Once in it you should not be seeking out any credit, this will only make it harder to meet your iva payments. If you purchase goods on credit now without the means to pay for them would defiantly be fraudulent and not worth the risk.
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benjiboo1
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by benjiboo1 » Sun Apr 09, 2017 8:45 pm
Good post moira.... wow you are sounding so much stronger now..
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moira717
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by moira717 » Mon Apr 10, 2017 5:38 am
Thank you, yes I am in far better place now, have learnt so much last couple of months and will be learning over next few years!! :D
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Foggy
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by Foggy » Mon Apr 10, 2017 7:34 am
moira717 wrote:
Thank you, yes I am in far better place now, have learnt so much last couple of months and will be learning over next few years!! :D



You are now in control :-)
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moira717
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by moira717 » Mon Apr 10, 2017 7:56 am
Yes foggy, am getting back to the person I was 10 years ago..Has been a long road thus far and know I have long way to go but now have an end in sight :D
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Lisa Thomas
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by Lisa Thomas » Mon Apr 10, 2017 2:22 pm
Ben you are not usually able to obtain credit for over £500 without your supervisors permission - check your terms for this.

In any event it's likely that your account will be frozen due to the IVA on your record.
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