Bank accounts

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63k

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Post by 63k » Mon Nov 19, 2007 6:51 pm
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I have a new bank account with an overdraft of £500, we have asked it to be reduced to £10 so we cant use the facility but will have the benefits of the account, cheque book, debit card etc, would you say this would be acceptable with the IVA hopefully going through.
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plec

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Post by plec » Mon Nov 19, 2007 8:43 pm
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HI 63k

when in a IVA you canot have a overdraft you are not allowed any cedit

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MelanieGiles

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Post by MelanieGiles » Mon Nov 19, 2007 8:59 pm
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You can have an overdraft facility - you will just not be permitted to use it!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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Skipper

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Post by Skipper » Mon Nov 19, 2007 10:32 pm
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you have to look at the creditor modification- chequebooks,debitcards are allowed as long as there is no access to O/D facilities as mine says.

In the proposal credit allowed upto 500 to replace household essentials as long as it does not interfer with my payment. A curious mod

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