www.iva.co.uk

I have around £16,000 of debt and i am considering an iva as we are struggleing to pay all our creditors. One of our creditors are a catalog where we have made purchases in recent weeks. would this affect us? such as them not agreeing to the iva as the purchases was recent?

thanks in advance
George

Hi and welcome.

You should not now use anymore credit and contact an IP company to help you out. I don't think the use of the catalogue will hinder you at all.

Visit www.iva.com for a list of companies and reviews and give one or two a ring. We also have experts who post on here and come highly recommended so you could speak to them as well.

Even though they was large purchases. Appliance breakdowns. I never used to believe in the saying ''they come in three's'' but they did. id didnt know what else to do. now im in the sticky stuff:(

Don't worry George - just speak to one of the professionals and they will help you out.

I think a lot of us used credit up until the time we decided to seek help.

Hi George. We had just negotiated our M&S Reserve Account into a loan in a bid to consilidate our personal debt but when our business failed a few months later we entered into an IVA and M&S were fine. Speak with the professionals and they will guide you in the right direction.

thanks to both. i spoke to a professional today, they led me to believe anything i have taken out in the last 12 months would cause problems. calalouge purchases and a credit card we got to pay off other credit because we didnt have the money. i hope you see why im getting confused.

Which company did you speak to George?

Whilst you should not use credit, there are a lot of people who do so, especially with credit cards.

Hi and welcome to the forum. Speak to 2 or 3 companies to ensure case specific and impartial advice. The recent use of credit shouldn't hinder your application as Jan says but do refrain from using anymore now you recognise you're insolvent. x

i spoke with Grant Thornton. they was reccomended to my by a friend. im just confused at the moment. we took out these large purchases because i was expecting to start a new job but it didnt come of anything. sill mistake thats cost us a fortune.

Do try one or two more companies before making a decision.

The experts who post on here come highly recommended and their details can be found via the 'Ask a question' link on the left hand side of the page.

We've all made mistakes George, why not talk to another couple of companies and compare the advice given.

We were using our credit cards to pay the minimum payment on other credit cards right up until the point that we contacted DFD for their help. Talk about robbing Peter to pay Paul. Of course this stopped the moment we started the ball rolling.

Hi George -- we spent on credit right up until the day we decided to do an IVA --- was in an attenmpt to stay afloat. Rather foolishly I had started to "spend" a substantial pay-rise I had been promised for the last 6 years -- was due to be paid out this year, but Nic and Dave put paid to that !!!!

Like most people on here, major purchases and occasions (Christmas etc) were funded by credit. We make our first payment later this month and we made a £200 purchase from a mail order company in March. We hadn't decided at this point on an IVA as we believed we would pay it off. We didn't (obviously) and it didn't affect our case.

I had made buy now pay later purchases on my catalogues in the months up to deciding to go into an IVA. Made no difference to the outcome (although neither Very or Fashion World companies voted). I think the BNPL culture is easy to do when in debt - we don't know what will happen 6 months down the line..neither do the creditors though.
I was worried that a well known computer company would be knocking on the door for my laptop but told not likely (and they haven't to date).
As long as you don't use credit once you have decided that you need an IVA then you should be ok.