Thank you so much for all your replies - it looks as though you are ok to keep your account if you do not owe that particular bank any money but if you do you need to set up a new account - please correct me if im wrong! Bad news is it looks as though my lease agreement on my car will be terminated ...

Thanks very much Sensible for your quick reply! I was worried because I read somewhere that all direct debits would have to be cancelled prior to getting an IVA but if you can transfer them over and carry them on then thats great! Looks like ill have to set up a new account then!

Hi there, This is my first post so thought I would say how fantastic this site is! [:D] having read through some of the posts I now have a little more of an idea on how to resolve my situation, and a great deal more information on IVA's! Everyone seems really friendly and helpful and its nice to kno...