On IVA but still have credit card with credit available, can I use it?

LaJolla

After I was accepted on to an IVA, my creditors froze my cards so I could not use them, except one card which I never owed money to. They seem to be unaware that I am on an IVA and my credit limit with them remains in tact.

Could I use this card only in emergencies? If so, would my creditors find out?

Max_1066

If you're on an IVA there's a clause in your agreement that you're not to use credit. If you did and didn't pay it off it would show up on a credit report. Whether your creditors would spot it is hard to say ... problem is you'd be in breach of the agreement.

Deep_In_Debt

Max_1066 wrote: »

If you're on an IVA there's a clause in your agreement that you're not to use credit. If you did and didn't pay it off it would show up on a credit report. Whether your creditors would spot it is hard to say ... problem is you'd be in breach of the agreement.

Yep, am sure you are not supposed to use credit whilst in an IVA. You'd just be running up more debt anyway and you'll have to find the credit card repaymentsout of your monthly budget, and the creditors in the IVA may not be too happy if you are servicing one debt and not theirs.

You could always try and put a bit away each month to save for those emergencies?

I'd suggest you get rid of the card so the temptation is not there.