www.iva.co.uk

My company currently operate our vehicals on an expenses claim back policy, I am putting in place a small cash float to cover fuel which will be around £250.00. however when service of repair work arises I will struggle so will probably have to take the car to the dealer in Bolton where there is a company account, (I live in the Midlands). There has been talk of the introduction of company credit cards for expenses (fuel, hotels etc)> If my IVA is approved, will I have to inform my company that I cannot have a credit card?.

Hi Darkdog,

If the card is a company one and they are resonse for paying the bills, then you should be ok.

I think you should inform the Supervisor of the arrangement as whilst it may not be a credit card in your name, it is still available credit. You may find that your IVA proposal prohibits additional credit without consent of the Supervisor.

I was always under the impression that if the card was a company one, and you weren't responsible for the bills, then that was ok.

I apologise if I am wrong.

If the company are going to be paying the bill, it is not credit in your own name, and therefore there is no need to disclose it.

OK thanks for the responses on this point, although not happened yet good to know my position if it does

I'm still going to stand by my original post on this point, unless that Company card is only made available for use at certain filling stations and garages. Otherwise it is additional credit that is available.
Consider the position if the recipient of an unrestricted card went out and abused it on a spending spree, using it to pay for household items or even a jolly. It is a possibility, is it not? And what if the company was then unable to recover those monies from the card user - Who would the person be who has had the benefit of that additional credit?

Sorry Cybus, i do not agree with your argument! I have a company credit card and use it very frequently (the last time being my Singapore trip). If any individual were to abuse the use of a company credit card-the first action that the company would take would be dismissal surely! To that end, spending on a jolly/spree or household items would not come into the equation. Company cards are very useful (for me anyway)purely for the fact i do not have to worry about finding the money up front for food & drink etc whilst employed away from home.


Regards zim zim

I think the point that Cybus may be making is that it is an offence to take credit of any kind, and that one it has been taken - whether this would lead to dismissal or anything else - then the deed has been done and the default of the IVA thus effected.

Not sure I entirely support this view, but I do think that the majority of employees in financial diffculties would probably think twice before abusing their employer's credit lines.

Hello Melanie, i take your point and whilst i understand what Cybus is saying-i work on the theory that it is a company credit card and therefore it is the company accessing credit and not the individual. Bit of simpleton thinking on my behalf maybe, but why make things harder than they have to be! Sorry Mel, just had a look at this again, it looks like i was having a pop at you! Please be assured i was not.

Regards zim zim

No - I concur with your thoughts, but can also see that Cybus is making a very good point.

Mel, i put an amendment on my last post post just in case you read it like i did. Not trying to cause an argument here but the post by Cybus is slightly contradicting! You can have a restricted card (if i am reading the post correctly)but an unrestricted one is a no no. Credit is credit regardless of the amount and also regardless of where you use it ie filling stations and garages!

I didn't read it that way at all Zim Zim!!

Good good [:)]

It's good to see you back zim zim!