can an overdraft be incorperated into an IVA?

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dand

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Post by dand » Mon Oct 27, 2008 8:49 pm
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Good evening.

I owe in the region of £18000 on an overdraft, a loan and 2 credit cards. The bulk of the debt is on an overdraft that is £7500. The loan is £6000 and the credit cards £4500. The problem I have is that i am only paying an overdraft fee of £35 a month, and the loans and cards come in at around £245 a month. Firstly can an overdraft be incorperated into an IVA, and would this actually benefit me as my monthly outgoing isnt that large considering?
I am also a home owner in negative equity.

Thanks all.
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Adam Davies

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Post by Adam Davies » Mon Oct 27, 2008 8:57 pm
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Hi and welcome to the forum
Yes it can be included,infact it must be included.
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Mon Oct 27, 2008 9:02 pm
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If you are managing to pay the contractual amounts to your creditors each month, then you are not insolvent and would not require an IVA.

It is not really clear from your post whether you are in financial difficulties or not.
Regards, Melanie Giles, Insolvency Practitioner
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MelanieGiles

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Post by MelanieGiles » Mon Oct 27, 2008 9:02 pm
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If you are managing to pay the contractual amounts to your creditors each month, then you are not insolvent and would not require an IVA.

It is not really clear from your post whether you are in financial difficulties or not.
Regards, Melanie Giles, Insolvency Practitioner
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David Mond

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Post by David Mond » Wed Oct 29, 2008 1:30 am
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Please post details of all your financial circumstances including all assets and liabilities. Also whether married or with partner and details of all your income and expenditure - then appropriate advice can be given
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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