Debts to a IVA, What happens to Credit cards with £0 balance ?

Galeeno

With Debts in Credit cards, turning into an IVA


Credit cards with 0 Balance ? (=0 debt)

what happens to them?

Do they
1) get included into the IVA

2) If Not....do those Credit card with 0 balance find out about the IVA?
(get contacted about the IVA by the IP) ?


and what about credit cards which were closed 5 months ago? (closed off)

rabbit_burrow

The debts that you declare get added to the IVA.

You also get added to the Insolvency Register and your credit file is updated, so even the cards you don't declare will find out eventually as cards do checks occasionally (when they consider increasing a limit or assessing your interest rate, for example)

Cards that are closed will bear no effect AFAIK.

FiatFan_2

IIRC you are expected to cut up/destroy any credit cards (regardless of balance) and sign a declaration that you have