Credit cards which I omitted from IVA

[Nat12]

I've been in my IVA for 4 years. I have 2 credit cards which I omitted from the original agreement and have been paying these back separetly, I realised my mistake but don't want to "upset the apple cart", will my IP find out about these (due to be paid off in next 3 months) and will this cause my IVA to fail?

[Shining]

Hi Rachel and welcome to the forum. Have you been using the credit cards during the term of your IVA or just repaying the balance?

Not sure if your IP will find out about the cards really, you're almost at the end of your IVA now I expect and it would not be in the best interest of anyone for it to fail now. One of our more experienced posters will be along soon to advise. x

[MelanieGiles]

Hi Rachel and welcome to the forum

How have you been managing to repay these accounts, when your entire disposable income is accountable in the IVA?

[Lisa2009]

surely your IP should already know where ALL of your disposable income goes? How are you managing to pay off credit cards?

[Broke of London]

I'm intrigued - why did you want to pay two separately?

[kallis3]

Have you actually been using these cards during the IVA?

I'm wondering how you have been managing to pay them in addition to your IVA as well.

[andrea1968]

so much for living on a budget in an iva-dont iva companies credit check clients?

[Broke of London]

If Rachel's not been using the cards it would have been really tough paying them off from allowance savings or possibly OT.

[Foggy]

so much for living on a budget in an iva-dont iva companies credit check clients?

Don't think they do Andrea -- at least there are no searches on my file made by my IP

[andrea1968]

Oh right- I dont think I have any searches against me either-thought they may have done them as routine-check we arent getting into any more debt !!!!

[Foggy]

I would have thought that debt would be self - limiting in an IVA. Nobody would lend to us anyway

[kallis3]

If you already have the cards though and nobody credit checks you, you could presumably carry on using them.

[AlfieMoon]

Am amazed you would have any spare funds to pay off other debts - living with our IVA allows no free money at all - being in an IVA is hard work and involves lots of sacrifice or am I missing something!!! Absolutely all our monthly income is used to honour our IVA and essential living expenses!!!

[kallis3]

The rest of us are the same, however if they can save money from other allowances then you might be able to afford it.

It's not right though and the IP should be informed.

[Foggy]

You might be able to save from some of the allowances, but couldn't guarantee the regular surplus to pay credit cards. In any event, these days I would begrudge parting with the interest !!!!