www.iva.co.uk

Hiya

Was originally told that during my IVA I could still get credit of up to 500. Is this true? I need to get a few new bits for my flat as the old are falling apart. Can I use the 500 or take a payment break to pay for it?

Hi and welcome

I think the £500 credit refers to utility bills/insurance etc, not traditional borrowing. Ask your IP for a payent break if you need help

Regards

The £500 is generally allowable, regardless of the reason for the borrowings, but do be careful to not start something that you may find difficult to repay.

I will but I genuinely need a new bed and as ive mentioned in another post my laptop broke & I need one for work. What's the best way to put this to my IP?

Best to be up front with your IP. I would certainly look around for some free recycle sites and see what is available. Also a lot of charities these days have access to free reconditioned computers for people of low incomes or in financial difficulties - worth checking these out too.

I would personally try to avoid having to go into the £500 credit scenario - try and see what you can do without it - we have a local reuse centre that has brand new double and single mattresses for £50 - and full beds for £75 ...maybe a little saving here and there for a few weeks will allow you to replace the items you need.

I'm sure our plans state we can take a further £500 credit within the IVA. Hope you get sorted one way or another.

I would explore all options, including a "soft loan" from friends or family members, before obtaining further credit - which may in any case be difficult if you are currently in an IVA.