Hi bing and welcome.
Only my opinion but Bankrupcy does look like the best option for you as you dont have enough disposable for an iva. If you went bankrupt the overdraft would be included. I would speak to an insolvency practioner and get their advice on the best way to proceed. Melanie should be on at some point and i am sure will advise.
The main thing is you have realised you need to do something about it and have faced it, no kicks up the bum just a commendation. I used to throw bills to the back of the draw and not open them.
Wait and get some advice, you will be ok.
Your account will be closed if you go bankrupt its not like the old days when you could not get an account there are accounts for those who are bankrupt so dont worry about that either.
Still, wait for more advice.
Ang
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