Advice needed please

[chris_01]

Hi to all, I have my proposal for an iva today, and I would like to go ahead with it as soon as possible, but the only problem I have now is, my wages has gone in today, which just covers my overdaft, which is £1500, I have a new bank account in place my IP suggest I leave the overdraft in place as It does not look good for the creditors meeting, But if I do not go into my overdraft which is included in the iva, I will have nothing to live on for a whole month. I would like to know if anyone had this same problem & what did you do? Any advice will be much appreciated, Thank you.

[MelanieGiles]

A shame that this was not thought about at an earlier stage - your IP ought to have advised you to change bank accounts from the outset and your wages could now be being paid into the new account.

You should not incur more credit if you are about to propose an IVA, but I do appreciate that you have to live over the next month. What advice has your IP given you in this regard?

[luluj]

Change your bank details with your employer now so this does not happen again - I was advised to do that as soon as my new account was open - my overdraft was then left behind and to a certain extent forgotten about (although you do never forget) !