www.iva.co.uk

in an iva is it ok to get a prepaid credit card.Do you need to ask your ip?

Hi thanna and welcome to the forum

No - as this is not a form of credit.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

I think Melanie missed the first question which is *YES* you can have one, and then what Melanie said: No, you don't need to tell your IP.

asked my IP they said its fine as its not a form of credit , its a debit card , no different to using a normal cheque guarantee card or cash pint card

andyjc wrote:

cash pint card

I've never heard of one of those, but I want one!! (Sorry couldn't resist)[:D]

You can have debitcard,cheque book, prepaid card as long as there is no O/D facilities.Or don't use it if you have O/D.



"Always think outside the box"

Hi Thanna, I applied for a BREAD card yesterday, go to
www.protectiva.co.uk/forum and if you complete a survey for them, they will e-mail you the application form - saves you £10!!!
Or go down the last 250 posts and find the one with the header "BREAD pre-paid Maestro card"
Good luck, it was only to the first 100 applicants, but as of yesterday i think they had done about 58 of them

Welcome to the Forum Thanna,

As the money would be your own and you are not borrowing, it is ok for you to have a pre-paid credit card. You would not need to contact your I.P.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Thanks to all - I made the same mistake as I did in my accountancy finals. Did not read the question properly!!!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

MelanieGiles wrote:

Thanks to all - I made the same mistake as I did in my accountancy finals. Did not read the question properly!!!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

I'm going to suggest that in initially answering 'No' to the opening post, you could in fact be correct. I would further suggest that it all depends on where the funding for the pre-paid credit card is going to come from.

Tell it like it is.

[quote]Originally posted by vickir

Hi Thanna, I applied for a BREAD card yesterday, go to
www.protectiva.co.uk/forum and if you complete a survey for them, they will e-mail you the application form - saves you £10!!!
Or go down the last 250 posts and find the one with the header "BREAD pre-paid Maestro card"
Good luck, it was only to the first 100 applicants, but as of yesterday i think they had done about 58 of them
[i too got one thanx for all the help[:D]/quote]

Hi
There is no problem with a pre paid credit card.You are not taking credit as it is your money that you are spending.
How you fund it is upto you,as long as you have complied with the terms and conditions of your IVA and have declared all income,windfalls etc.
Some people put the whole of their wages on the card,others housekeeping money etc etc
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Cybus
There is no such thing as a Prepaid credit card.Only Prepaid debitcard. You are paying in the card before you spent. And you can't get into debt.It is authorised like a Visa Electron card. No preauthorisation is taken unlike a creditcard




"Always think outside the box"

I suppose the phrase "Prepaid Mastercard" rather than 'creditcard' would be a better phrase to use for those looking at cashplus.

I have one which I stick the shopping "budget" on, works really well for me, and I know what I have left to spend on anything else.