Would recent credit purchases affect us getting an IVA ?

[4kidsnocash]

Good point Kazza, the purchase we made in March was a pay later jobbie, if memory serves it was a 9 months later.

[kazzafunk]

Should be ok then - you couldn't foresee in March what would happen could you? In fact, we were waiting for a shed to arrive from Very which we cancelled when we realised we were going to have to go into an IVA. We then bought the shed with contingency money we saved. I didn't feel that it would be right to accept the delivery knowing what we were doing.

[gemma2506]

Hi there we are in the same boat, we decided finally within the last two weeks that we were going to enter into an IVA - since then we have had things turn up from both next and very(which we ordered months ago and have sent back) do you think this would affect there decision?

[Hippo]

Hi
I was using credit cards in the same year that I started my IVA a few months before it I was told when I contacted my IVA company to just stop using them and cut them up and tell them to stop calling me and say I was starting an IVA As long as you dont use credit once you set the ball rolling I think its acceptable

[andrea1968]

Our problems started when I became ill and had to finish work suddenly. I was self-employed, working for a company and the day I finished work was the last day I received pay.
So, yes I was ordering out of our catalogue and using credit up until the day I finished work.We had a 52 inch tv and a leather suite on bnpl that had only been purchased a couple of months before my finishing work.We did do a dmp for 7 months to see if things would improve on the health front but as they didnt opted to go for an iva.

No-one can predict what will happen tomorrow, the cost of living is going up almost daily,cuts in hours at work and overtime,pay freezes,relationships breaking down,
health issues, none of us is immune from any of these scenarios and we all try and struggle on until we realise we cant fund the lifestyles we have chosen any more.
We should never ever feel guilt about having spent this money, how many of us on the forum never defaulted on a thing until looking at an iva???
None of us borrowed without the intention to pay the money back.

[Broke of London]

It's unrealistic to think that anyone bordering on insolvency wouldn't have used credit in the past year, even if it was only their overdraft! I do agree though that once you realise you won't be paying the money back you shouldn't use credit or accept delivery of the BNPL purchases. I'm very impressed by all the honest people who returned deliveries and cancelled orders!!

[briggadeen]

We rearranged a loan just a few months before we realised we were in the smelly stuff. And we used Grant Thornton and it was absolutely no problem putting our IVA through. I also used my overdraft regularly and credit cards.

Needlessly to say, once everything was being prepared we cut up all cards etc.

[stewpots]

A friend of mine funded a holiday and took £2,700 out in cash (£300 a day) before the credit card stop its use (other 8 cards already had done)

That card accpeted the IVA proposal about 5 months later with 7 of the 8 others)

It help keep his house